Bitwise Launches Bitcoin and Gold ETP Trading on Euronext
Bitwise has launched the Bitwise Diaman Bitcoin & Gold ETP (BTCG), which is now trading on Euronext Paris and Amsterdam. This exchange-traded product tracks both bitcoin and gold.
- The ETP replicates the Diaman Bitcoin and Gold Index.
- The index reallocates value between bitcoin and gold based on their risk-adjusted performance.
- This strategy aims to capitalize on market trends between risk-on and risk-off phases.
- Despite being termed digital gold, bitcoin often follows tech stock movements rather than gold prices.
- For instance, while gold reached record highs in February, bitcoin declined by nearly 17% during the same period.