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Bitwise Debuts Bitcoin and Gold ETP in Europe
The Bitwise Diaman Bitcoin & Gold ETP (BTCG), which commenced trading on Euronext Paris and Amsterdam on Thursday, replicates the Diaman Bitcoin and Gold Index
Updated Mar 6, 2025, 1:35 p.m. Published Mar 6, 2025, 11:28 a.m.
What to know:
- Bitwise has unveiled an exchange-traded product (ETP) tracking bitcoin and gold.
- The Bitwise Diaman Bitcoin & Gold ETP (BTCG) replicates the Diaman Bitcoin and Gold Index, which dynamically reallocates value between BTC and gold, depending on the risk-adjusted performance of bitcoin.
Asset manager Bitwise has unveiled an exchange-traded product (ETP) tracking bitcoin and gold.
The Bitwise Diaman Bitcoin & Gold ETP (BTCG), which commenced trading on Euronext Paris and Amsterdam on Thursday, replicates the Diaman Bitcoin and Gold Index.
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The index dynamically reallocates value between BTC and gold, depending on the risk-adjusted performance of bitcoin, thus taking advantage of cyclical trends between risk-on and risk-off behavior in financial markets.
While bitcoin is often described as a form of digital gold, it often tracks risk assets like tech stocks rather than the yellow metal.
For example, gold ascended to record highs in February amid concerns about U.S. President Trump's tariff plans. BTC, on the other hand, fell nearly 17%.
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Bitcoin gets 'base case' price target of $143,000 at Citigroup
The Wall Street bank said its bitcoin forecast relies on further crypto ETF inflows and a continued rally in traditional equity markets.
What to know:
- Citigroup's base case for bitcoin (BTC) is a rise to $143,000 in 12 months.
- Analysts highlight $70,000 as key support, with the potential for a sharp rise due to revived ETF demand and positive market forecasts.
- The bear case sees bitcoin falling to $78,500 amid a global recession, while the bull case predicts a rise to $189,000 due to increased investor demand.
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