The London Stock Exchange added a new product to its listings on January 13. The 21Shares Bitcoin and Gold ETP, or BOLD, merges the two most liquid alternative assets. Investors can now access a single instrument blending bitcoin’s growth potential with gold’s value preservation. The move marks the first U.K.-listed ETP covering both assets together.
BOLD Launches as Demand for Regulated Digital Assets Increases. The move comes after the relaxation of U.K. rules on exchange-traded crypto products in October last year. Initial figures indicate high demand, with exchange-traded note volumes touching $280 million in the month following the end of the ban, making the U.K. a hotbed for these products.
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Balancing Growth and Stability
The assets in BOLD’s portfolio are risk-weighted. This is done in a bid to minimize the volatility of risks commonly experienced when one holds only bitcoin. At the end of each month, the allocation is rebalanced. If Bitcoin performs better, the allocation is reduced, and the proceeds are allocated to gold. The process is done in reverse if the latter performs better.
The product gives investors the opportunity to invest in returns that are similar to the returns that come from investing in Bitcoin, but the product does this in a way that is less risky. The involvement of gold in the product makes it a hedge that is highly desirable for investors who seek diversification beyond stocks and bonds. The custodians of the product ensure that the underlying assets are secure.
Proven Track Record and Accessibility
Launched in April 2022 in Switzerland, BOLD has since been introduced in leading European stock exchanges. In terms of pound sterling, BOLD has provided returns of 122.5 percent up to 2025, outperforming bitcoin and gold.
The ETP is an intraday-traded investment vehicle offering similar flexibility for investors as traditional equities. It has a total expense ratio of 0.65%, which is quite competitive among investment products offering exposure to a variety of asset classes. With the introduction of a new investment vehicle offering a combination of growth and stability within a regulated framework, BOLD offers a new choice for investors in the traditional as well as the crypto space.
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