Defiance launched four ETFs that track long and short positions in Bitcoin, Ethereum, and gold.

According to Defiance ETFs, LLC's filing with the U.S. Securities and Exchange Commission (SEC), the agency has applied for four new exchange-traded funds, including:

1. Bitcoin vs. Ethereum ETF: Long BTC, Short ETH;
2. Ethereum vs. Bitcoin ETF: Short BTC, Long ETH;
3. Bitcoin vs. Gold ETF: Long BTC, Short Gold;
4. Gold vs. Bitcoin ETF: Short BTC, Long Gold. It is reported that each fund tracks the leveraged performance of one asset relative to another through derivatives and adopts an active management approach, seeking total return through synthetic exposure to the underlying asset. These funds do not hold physical assets but instead use a combination of futures contracts, swaps, options, and ETFs or exchange-traded products listed in the United States (ETP) to establish leveraged exposure.