21Shares, a major global exchange-traded product (ETP) provider, has expanded access to its investment product combining exposure to Bitcoin and gold.
The 21Shares Bitcoin Gold ETP (BOLD), which tracks both Bitcoin (BTC) and gold, debuted trading on the London Stock Exchange (LSE) on Tuesday, according to an official announcement.
“Now that retail investors in the UK have access to crypto ETPs, 21shares is dedicated to delivering a wider selection of innovative regulated products,” 21shares CEO Russell Barlow said.
The LSE rollout comes years after 21Shares debuted BOLD on SIX Swiss Exchange in April 2022. The company has since listed the product on major European exchanges, including Deutsche Boerse Xetra, Euronext Amsterdam, Euronext Paris and Nasdaq Stockholm.
BOLD asset allocation: Two-thirds in gold and one-third in Bitcoin
Developed in partnership with investment research platform ByteTree Asset Management, BOLD is 100% physically backed by its underlying assets and allocates the majority of its assets to gold.
As of Jan. 12, the 21Shares Bitcoin Gold ETP holds 65.85% gold, valued at $4,604.10 per ounce, and 34.15% Bitcoin, priced at $90,806 at the time of writing, according to the fund’s data.
“By allocating equal risk to both assets, BOLD offers a balanced approach for investors seeking to hedge against inflation,” the fund’s description said, citing gold’s long-standing role as an inflation hedge and Bitcoin’s growing reputation as “digital gold.”
“Bitcoin and gold are increasingly seen as complementary assets in a world of persistent inflation and monetary uncertainty,” Charles Morris, ByteTree founder and chief investment officer, said.
He noted in a post on X that the fund has begun trading on the LSE under the ticker “BOLD” in British pounds sterling and “BOLU” in US dollars.
The 21Shares BOLD ETP has a net asset value of $50.3, with total assets under management of $40.2 million, and an annual management fee of 0.65% covering custody, administration and ongoing operation.
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The fund is one of numerous crypto ETPs operated by 21Shares, including products tracking altcoins such as Aave (AAVE), Cardano (ADA), Chainlink (LINK) and Polkadot (DOT).
At the end of last week, 21Shares held about $4 billion in assets under management (AUM) for European crypto ETPs, representing roughly 2% of the $181.9 billion in global crypto ETP AUM, according to data from crypto asset manager CoinShares.
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