STKd 100% Bitcoin & 100% Gold ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 8 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About BTGD
TheFund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investingvia U.S.-listed futures contracts as well as pooled investment vehicles, such as exchange-traded products (“ETPs”)(“Underlying Funds”), in two complementary asset classes, a modern digital asset class (bitcoin) (the “Bitcoinstrategy”) and a traditional asset class (gold) (the “Gold strategy”). Although ETPs may be referred to as “ETFs”or “funds,” ETPs are not registered under the 1940 Act and therefore are not subject to 1940 Act protections. Bitcoinand gold are often viewed as complementary asset classes due to their differing characteristics and benefits. Gold is a traditionalstore of value, recognized for its stability and use as a hedge against inflation and economic uncertainty. Bitcoin, as a digitalasset, offers high growth potential and diversification benefits, especially in the context of technological innovation and financialdecentralization. While gold provides security and risk mitigation, bitcoin adds potential for capital appreciation and exposureto digital asset markets, making them complementary in balancing risk and reward in a diversified portfolio. Bitcoinis sometimes referred to as "digital gold" due to the belief that it may serve as a durable store of value, similarto gold. However, bitcoin has not yet fully achieved this status, and there remains a low correlation between the performanceof bitcoin and gold. As a result, bitcoin may not currently exhibit the same stability or risk mitigation properties as gold inperiods of market stress or inflationary environments. TheFund uses leverage to “stack” the total return of holdings in the Fund’s Bitcoin strategy together with thetotal returns of holdings in the Fund’s Gold strategy. Essentially, one dollar invested in the Fund provides approximatelyone dollar of exposure to the Fund’s Bitcoin strategy and approximately one dollar of exposure to the Fund’sGold strategy. So, the return of the Gold strategy (minus the cost of financing) is essentially stacked on top of the returnsof the Bitcoin strategy (minus the cost of financing). Under normal circumstances, the Fund’s notional exposure tothe Bitcoin strategy will represent approximately 100% of the Fund’s net assets, and the Fund’s notional exposureto Gold strategy will represent approximately 100% of the Fund’s net assets. The Underlying Funds may gain their exposureto the underlying asset classes either directly, or through the use of derivative instruments, such as futures contracts and swaps. Inparticular, the term “exposure” refers to the degree to which the Fund’s investment is influenced by fluctuationsin each of the Bitcoin strategy and the Gold strategy (as described more fully below). If you invest one dollar in the Fund, onedollar’s worth of that investment will track the performance of the Fund’s Bitcoin strategy (as described more fullybelow), behaving similarly to how bitcoin price performs. In addition, one’s dollar’s worth of that investment willtrack the performance of the Gold strategy, mirroring the ups and downs of the price of gold. Through the Fund’s use ofleverage, each dollar invested is effectively doubled to follow and potentially profit (or experience losses) from two differentinvestment strategies. The Fund’s investment strategy is based on the belief that the combination of investing in theBitcoin strategy and the Gold strategy may provide complementary benefits, given their historically low correlation (their historicalprice movements have not been closely related). By blending assets with low correlation, the Fund aims to reduce the impact ofshort-term market fluctuations on the overall investment outcome, potentially providing a more stable investment trajectory. TheFund will invest primarily in: ● Gold futures contracts ● Bitcoin futures contracts ● Underlying Funds providing exposure to gold ● Underlying Funds providing exposure to bitcoin ● Cash and cash equivalents ● Reverse repurchase agreements BitcoinStrategy TheFund seeks to capture the price return of bitcoin. To do so, the Fund will invest in bitcoin futures contracts and Underlying Funds thatprovide exposure to bitcoin and/or U.S. listed bitcoin futures. With respect to the Underlying Funds, low-cost bitcoin ETPs that haveample liquidity will be favored. Under normal circumstances, the Fund’s notional exposure to the Bitcoin strategy will representapproximately 100% of the Fund’s net assets. GoldStrategy TheFund seeks to capture the price return of gold. To do so, the Fund will invest in gold futures contracts and Underlying Funds that provideexposure to gold, and/or U.S. listed gold futures. With respect to the Underlying Funds, low-cost gold ETPs that have ample liquiditywill be favored. Undernormal circumstances, the Fund’s notional exposure to the Gold strategy will represent approximately 100% of the Fund’s netassets. Example:If the Fund has $100 in assets, the Fund expects to achieve $100 of exposure to the Bitcoin strategy and $100 of exposure to the Goldstrategy. This is akin to investing $100 in a bitcoin strategy fund, borrowing $100, and putting the borrowed $100 in a gold strategyfund. Note:Notional value is the total underlying amount of a derivatives trade. Leverage allows an investor (like the Fund) to use a small amountof money to gain exposure to a larger (and potentially, a much larger) amount. So, notional value reflects the total value of a trade,not the cost (or market value) of taking the trade. Via the Fund’s use of futures in both its Bitcoin strategy and Gold strategy(described below), the Fund provides leveraged exposure to a combination of bitcoin and gold. Futurescontracts have a limited lifespan before they expire (e.g., quarterly). The Fund will frequently “roll-over” futures contracts- replace an expiring contract with a contract that expires further in the future. As a result, the Fund’s portfolio will be subjectto a high portfolio turnover rate. TheFund does not invest directly in bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current“spot” or cash price of bitcoin. Investors seeking direct exposure to the price of bitcoin should consider an investmentother than the Fund. TheFund does not invest directly in gold or gold bullion. Investors seeking direct exposure to the price of gold should consider an investmentother than the Fund. CaymanSubsidiary: TheFund intends to gain exposure to futures contracts and the Underlying Funds either directly or indirectly by investing througha wholly-owned Cayman Islands subsidiary (the “Subsidiary”) that is advised by the Adviser (as defined below) andthe Sub-Adviser (as defined below). The Fund may invest up to 25% of its total assets in the Subsidiary, tested at the end ofeach fiscal quarter. TheSubsidiary will generally invest in futures contracts and Underlying Funds that do not generate “qualifying income”under the source of income test required to qualify as a regulated investment company (“RIC”) under Subchapter M ofthe Internal Revenue Code of 1986, as amended (the “Code”). Unlike the Fund, the Subsidiary may invest without limitationin futures contracts; however, the Subsidiary will comply with the same Investment Company Act of 1940, as amended (the “1940Act”), requirements that are applicable to the Fund’s transactions in derivatives. In addition, the Subsidiary willbe subject to the same fundamental investment restrictions as the Fund and will comply with them on an aggregate basis with theFund, and will follow the same compliance policies and procedures as the Fund. Unlike the Fund, the Subsidiary will not seek toqualify as a RIC under the Code. The Fund is the sole investor in the Subsidiary and does not expect the shares of the Subsidiaryto be offered or sold to other investors. Because the value of the Subsidiary must not exceed 25% of the Fund’s value atthe close of any quarter, the Subsidiary may need to sell assets as a quarter end approaches and pay a dividend to the Fund. Thisdividend will constitute qualifying income for RIC purposes. Except as otherwise noted, for purposes of this Prospectus, referencesto the Fund’s investments include the Fund’s indirect investments through the Subsidiary. ReverseRepurchase Agreements TheFund may invest in reverse repurchase agreements, which are a form of borrowing where the Fund sells portfolio securities to financialinstitutions and agrees to repurchase them at a later date for a higher price. This arrangement allows the Fund to use the proceedsfrom the initial sale for other investment purposes. However, since the Fund repurchases the securities at a higher price, itincurs a loss on these transactions. Toqualify for treatment as a regulated investment company (RIC) under the Internal Revenue Code, the Fund may use reverse repurchaseagreements to ensure that its investment in the Subsidiary does not exceed 25% of the Fund’s total assets at the end ofeach fiscal quarter (the “Asset Diversification Test”). During other times of the year, the Fund's investments inthe Subsidiary may exceed 25% of its total assets. Collateral Aspart of the Fund’s strategy, the Fund holds collateral investments. The Fund expects to invest approximately 10% to 65%of its net assets in U.S. Treasury bills, money market funds, cash and cash equivalents (e.g., high quality commercial paper andsimilar instruments that are rated investment grade or, if unrated, of comparable quality, as the Sub-Adviser determines), thatprovide liquidity, serve as margin or collateralize the Fund’s or the Subsidiary’s investments in futures contracts.Over a quarter end the percentage will likely be more than 75%, due to asset diversification requirements which the Fund mustmeet in order to qualify as a RIC, but the Fund will likely reinvest some of its liquid assets in the Subsidiary after the endof a quarter. OtherFund Attributes Undernormal circumstances, the Fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in (a) goldfutures, (b) bitcoin futures, (c) Underlying Funds providing exposure to gold, and (d) Underlying Funds providing exposure tobitcoin. For purposes of compliance with this investment policy, derivative contracts will be valued at their notional value. TheAdviser reallocates the Fund’s portfolio holdings at least monthly to seek to maintain a balanced notional exposure of approximately100% to bitcoin and 100% to gold. However, between reallocation dates, the allocation between the two assets may drift substantially,potentially necessitating more frequent reallocations to maintain the target exposure. TheFund does not intend to hold futures contracts through expiration, but instead will roll its “prompt” futures positions.Rolling occurs when the Fund closes out of a futures contract as it nears expiration and then replaces it with a contract thathas a later expiration. A “prompt” futures contract refers to the Fund’s futures contracts that are closestto expiration (e.g., for delivery in the next calendar month). TheFund is classified as a “non-diversified” investment company under the 1940 Act and, therefore, may invest a greaterpercentage of its assets in a particular issuer than a diversified fund. InformationAbout Bitcoin Asnoted above, the Fund does not invest directly in bitcoin or any other digital assets. The Fund does not invest in or seek directexposure to the current “spot” or cash price of bitcoin. Investors seeking direct exposure to the price of bitcoinshould consider an investment other than the Fund. The following provides an overview of bitcoin, the Bitcoin Blockchain,the relationship between the two, as well as their use cases. BitcoinDescription: Bitcoin,the first and most well-known modern digital asset, operates on a decentralized network using blockchain technology to facilitatesecure and anonymous transactions. Bitcoin represents a digital asset that functions as a medium of exchange utilizing cryptographicprotocols to secure transactional processes, control the creation of additional units, and verify the transfer of assets. Itsoperation on a decentralized blockchain network ensures both transparency and immutability of records, without the need for acentral authority. This innovative technology underpinning bitcoin allows for peer-to-peer transactions and provides a frameworkfor digital scarcity, making bitcoin a unique investment commodity within the digital asset landscape. Although bitcoin is calleda crypto or digital currency, it is not presently accepted widely as a means of payment. BitcoinBlockchain Description: TheBitcoin Blockchain constitutes a decentralized, digital ledger technology that chronologically and publicly records all bitcointransactions. This technology is characterized by its use of blocks, which are structurally linked in a chain through cryptographichashes. Each block contains a list of transactions that, once verified and added to the blockchain through a consensus processknown as proof of work, which may take an hour or more, becomes irreversible and tamper-evident. The integrity, transparency,and security of the transactional data are maintained autonomously within the bitcoin network, eliminating the necessity for centraloversight and facilitating trust in a peer-to-peer system. TheRelationship between Bitcoin and Bitcoin Blockchain: Bitcoinis a digital asset that operates on the Bitcoin Blockchain, a decentralized and cryptographic ledger system. The Bitcoin Blockchainunderpins the entire bitcoin network, providing a secure and transparent mechanism for recording bitcoin transactions. Each bitcointransaction is verified by network participants and permanently recorded on the Bitcoin Blockchain, ensuring the integrity andtraceability of the digital asset. Thus, while bitcoin serves as a medium of exchange or store of value, the Bitcoin Blockchainacts as the immutable record-keeping system that facilitates and authenticates the circulation and ownership of bitcoin. Thissymbiotic relationship ensures that bitcoin operates in a trustless and decentralized manner, with the Bitcoin Blockchain maintainingbitcoin's history and scarcity. Bitcoinand Bitcoin Blockchain Use Cases: Bitcoinand the Bitcoin Blockchain serve as innovative financial instruments within the digital economy, offering multiple use cases.However, their adoption has been limited. Key applications include: 1. Decentralized Transactions: Bitcoin facilitates peer-to-peer financial transactions globally without the need for intermediaries, reducing transaction costs and times. This feature makes it an attractive option for cross-border transfers and remittances. Bitcoin and the Bitcoin Blockchain were designed to be used as an alternative general purpose payment system and while bitcoin may be an attractive option for cross border transfers and remittances, it is presently not widely used as a means of payment. 2. Store of Value: Due to its limited supply and decentralized nature, bitcoin is perceived as a digital alternative to traditional stores of value like gold, potentially serving as a hedge against inflation and currency devaluation. 3. Smart Contracts: While primarily associated with other blockchain platforms, the Bitcoin Blockchain can execute smart contracts—self-executing contractual agreements with the terms directly written into code—thereby enabling automated and conditional transactions. 4. Asset Tokenization: The Bitcoin Blockchain provides a platform for tokenizing assets, converting rights to an asset into a digital token on the blockchain. This can include real estate, stocks, or other forms of assets, enhancing liquidity and market efficiency. At this time this functionality is limited. Unlike the scripting language of blockchain platforms like Ethereum, the scripting language of the Bitcoin Blockchain is not Turing complete, and thus more limited in terms of the types of smart contracts it can support. 5. Digital Identity Verification: Leveraging the security and immutability of the Bitcoin Blockchain, companies can develop digital identity verification systems, enhancing privacy and reducing identity theft. At this time this functionality is limited.
BTGD News
Data for BTGD is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.