A proposed exchange-traded fund, which filed a prospectus on Thursday, seeks to give traders and investors exposure to both bitcoin and gold without having to buy either asset.

Using leverage, the STKD Bitcoin & Gold ETF from Tidal Investments and Quantify Chaos Advisors aims to provide simultaneous exposure to the performance of Bitcoin and gold via bitcoin futures and ETFs, as well as gold futures and ETFs.

So, why would someone seek to invest in two assets that have not been historically correlated? The strategy is based on the idea that a combination of investing in a Bitcoin strategy and a gold strategy may provide complementary benefits, according to the preliminary SEC prospectus.

"By blending assets with low correlation, the Fund aims to reduce the impact of short-term …