21Shares has launched its 21Shares Bitcoin Gold ETP (BOLD) on the London Stock Exchange.
The launch marks the firm’s fifth cryptocurrency product to receive prospectus approval from the Financial Conduct Authority for UK retail investors, following its Bitcoin and Ether offerings.
“BOLD is an exciting new product that aims to offer investors a potential hedge against inflation, exposure to Bitcoin’s growth potential, and the relative stability of gold,” said Russell Barlow, chief executive of 21Shares.
“Now that retail investors in the UK have access to crypto ETPs, 21Shares is dedicated to delivering a broader range of innovative, regulated products,” he added.
21Shares Bitcoin Gold ETP (BOLD, ISIN: CH1146882308) is listed in GBP and carries a 0.65% annual management fee.
Developed in partnership with ByTree Asset Management, BOLD combines gold and Bitcoin to create an ETP offering exposure to two store-of-value assets.
The allocation is determined by the inverse historical volatility of each asset, assigning a higher weighting to the relatively more stable component, with the aim of delivering diversification benefits and inflation protection.
“BOLD applies a disciplined, rules-based approach to combining these assets, providing a transparent solution for investors seeking diversified exposure,” said Charles Morris, founder and chief investment officer of ByteTree Asset Management.
According to 21Shares, the ETP is 100% physically backed by the underlying assets, which are held in cold storage with an institutional-grade custodian.
