Quantify Blends Bitcoin, Gold as Inflation Hedge

• Quantify Funds pairs bitcoin and gold in a single ETF to hedge against inflation and currency debasement.
• The firm’s CEO says bitcoin’s predictable price cycles are ending as institutional investors change the market.
• The firm has expanded its stacked approach to alt cryptocurrencies and artificial intelligence (AI) stocks.

The era of bitcoin’s predictable four-year halving cycle is over, according to Quantify Funds CEO, David Dziekanski. Sharing his insight during an interview at the recent Exchange 2026 conference, he argued that institutional adoption has fundamentally changed how the asset trades.

See more: Advisors Weigh Crypto Portfolio Strategies

Dziekanski discussed the firm’s stacked ETF approach and its flagship product, the STKd 100% Bitcoin & 100% Gold ETF (BTGD). He explained that the strategy pairs what he calls “old world” and “new world” scarcity assets, while rebalancing portfolios twice daily to maintain 200% total exposure.

The pairing reflects what Dziekanski describes as a scarcity stack built on supply constraints shared by both assets. Gold supply increases by less than two percent annually, while bitcoin’s supply grows by less than one percent. With 45% of all U.S. dollars in circulation printed since COVID-19, Dziekanski said that he views both as essential hedges against expanding money supply.

That approach has delivered results, according to Dziekanski. BTGD was the second-best performing ETF in Morningstar’s digital asset category in 2025, he noted. The fund provides 100% exposure to bitcoin and 100% exposure to gold through leveraged positions.

The performance stems from Quantify’s approach to managing derivatives, which Dziekanski described as the firm’s differentiator. The firm partners with derivative experts like Convexitas to implement hedge fund-style strategies within an ETF wrapper.

Unlike competitors that sell monthly calls, Quantify rebalances its portfolios 500 times per year. This helps to maintain what are called Delta 1 targets. The term refers to 100% exposure to each underlying asset, Dziekanski explained. The high-frequency approach allows the firm to stay fully exposed to both bitcoin and gold while managing downside risk.

Stacked ETFs Use Tax-Efficient Options

The rebalancing strategy relies on Flex options, which are eligible for “heartbeat trades” that make the leverage more tax-efficient than traditional leveraged ETFs, Dziekanski said. These options allow the fund to reset its leverage without triggering taxable events as frequently as standard leveraged products.

The structure also provides built-in downside protection, according to Dziekanski. By using in-the-money call options, the strategy creates an embedded put that allows the funds to outperform bitcoin by 100 to 150 basis points on days when the asset drops five percent or more.

Dziekanski’s view that bitcoin’s four-year boom-bust pattern is ending stems from two changes in the market. First, the impact of halving events, which cut the rate of new bitcoin creation, has diminished as the reductions get smaller with each cycle, he said. While early halvings slashed new supply from 15% to 7.5%, the most recent halving reduced it by less than one percentage point.

Second, the buyer profile for bitcoin has fundamentally shifted, Dziekanski said. The entry of institutions like Morgan Stanley and Bank of America means allocators are more likely to rebalance into drawdowns rather than face retail-style margin calls. That institutional stability reduces the extreme price swings historically tied to halving events.

While bitcoin and gold form the core of Quantify’s lineup, the firm applies the same stacked methodology to other markets, Dziekanski said. The firm offers the Quantify 2X Daily Alt Season Crypto ETF (QXAS), which provides exposure to the broader crypto ecosystem including Ethereum, Solana and XRP while excluding bitcoin.

The firm also offers the STKd 100% NVDA & 100% AMD ETF (LAYS), a stack focused on Nvidia Corp. (NVDA) and Advanced Micro Devices, Inc. (AMD) that capitalizes on artificial intelligence (AI) trends.

For more news, information, and strategy, visit the Crypto Content Hub.

Earn free CE credits and discover new strategies