- 21Shares Bitcoin and Gold ETP starts LSE trading, combining bitcoin growth with gold stability in one regulated product.
- The product uses monthly risk-weighted rebalancing to reduce volatility while targeting bitcoin-like returns.
- Since 2022, BOLD has outperformed standalone bitcoin and gold in sterling terms, net of fees.
As 21Shares Bitcoin and Gold ETP begins trading on the London Stock Exchange, Bitcoin is holding near $92,176 as of press. This is reflecting mixed momentum in the crypto space.
On the other hand Gold sits around $4,509.79 per ounce, showing steady demand for the precious metal. This dual-asset vehicle launches amid active trading in both markets.
It is offering investors a combined exposure to bitcoin’s price movements and gold’s enduring value.
London Listing Marks Expansion of Regulated Crypto Access
21Shares Bitcoin and Gold ETP began trading on the London Stock Exchange on January 13, opening access for UK investors.
The listing follows regulatory changes that allowed crypto exchange-traded products to re-enter the market.
The product, trading under the ticker BOLD in sterling, combines bitcoin and gold within one exchange-traded structure. It is the first UK-listed product to offer joint exposure to both assets.
Market awareness of the launch spread quickly across social media. The product’s risk-weighted structure is designed to reduce volatility.
Early trading activity reflected initial interest from market participants. On its first trading day, the London listing recorded several thousand units in volume, indicating early engagement from investors.
The listing also aligns London with other European venues where the product already trades. These include Zurich, Frankfurt, Paris, Amsterdam, and Stockholm.
Portfolio Structure Balances Bitcoin and Gold Risk
21Shares Bitcoin and Gold ETP is physically backed, with bitcoin and gold held by institutional-grade custodians. Gold is stored with JP Morgan, while bitcoin custody is handled by Anchorage Digital and Copper Technologies.
Rather than equal capital allocation, the product applies inverse volatility weighting. This method adjusts exposure so each asset contributes similar risk to the portfolio.
Monthly rebalancing is central to the strategy. When one asset outperforms, its weight is reduced, while exposure to the weaker asset increases at rebalance.
This process aims to smooth returns across market cycles. It also seeks to capture additional returns through disciplined adjustments rather than passive holding.
The approach has kept volatility closer to gold levels while preserving bitcoin’s growth profile. The total expense ratio for the product is set at 0.65 percent annually.
Performance Record and Market Positioning
Since its launch in Switzerland in April 2022, 21Shares Bitcoin and Gold ETP has returned 122.5 percent in sterling pounds by the end.
Over the same period, standalone bitcoin and gold delivered lower returns on a comparable basis. The difference is attributed to the systematic rebalancing framework.
Data from the BOLD Index shows long-term outperformance against static allocation strategies. The index reflects the historical effect of maintaining equal risk exposure.
The product is positioned for investors seeking diversification beyond traditional assets. It targets those who prefer regulated access with daily liquidity.
Assets under management stand at approximately $40.5 million. The issuer, 21Shares AG, continues to expand its European footprint with crypto-linked exchange-traded products.
BOLD ETP Signals a New Era for Investors
The launch of 21Shares Bitcoin and Gold ETP marks a milestone in accessible, diversified investing. BOLD’s risk-weighted, physically backed structure will offer investors a strategic tool to navigate volatility while seeking consistent returns.
The ETP opens doors for both retail and institutional investors to explore a streamlined approach to alternative assets, reinforcing diversified portfolios in evolving markets.