21Shares, a leading provider of exchange-traded products (ETPs), has expanded its innovative investment offerings in the United Kingdom by introducing a fund that combines Bitcoin and gold. The new product, known as the 21Shares Bitcoin Gold ETP (BOLD), began trading on the London Stock Exchange (LSE) this week.
The BOLD ETP is designed to provide exposure to both Bitcoin (BTC) and gold, with an allocation of two-thirds in gold and one-third in Bitcoin. It is available for trading in both British pounds and US dollars. This strategic move aligns with 21Shares' commitment to offering a diverse range of regulated crypto investment products to UK retail investors, as stated by CEO Russell Barlow.
Originally launched on the SIX Swiss Exchange in April 2022, the BOLD fund has since been listed on various major European exchanges, including Deutsche Boerse Xetra and Euronext Amsterdam. The ETP is physically backed by its underlying assets, offering a balanced investment approach by allocating equal risk between gold and Bitcoin. This aims to help investors hedge against inflation, with gold being a traditional safe haven and Bitcoin increasingly regarded as "digital gold."
Charles Morris, the founder and chief investment officer of ByteTree Asset Management, which partnered with 21Shares on the development of BOLD, emphasized the complementary nature of Bitcoin and gold as assets in the current economic climate. The fund trades under the ticker "BOLD" in pounds and "BOLU" in dollars.
As of Monday, the ETP holds approximately 65.85% of its assets in gold and 34.15% in Bitcoin. The net asset value of the BOLD ETP is $50.30, with total assets under management reaching $40.2 million. The annual management fee stands at 0.65%, covering various operational costs.
21Shares is a key player in the cryptocurrency ETP market, managing a wide array of products that track various digital assets, including altcoins like Aave (AAVE), Cardano (ADA), Chainlink (LINK), and Polkadot (DOT). The company oversees around $4 billion in assets under management for its European crypto ETPs, accounting for about 2% of the global market share, according to CoinShares data.