World’s First Combined Gold and Bitcoin ETP Launches in Europe

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Bitcoin is often described as digital gold and now UK investors can get the best of both worlds with the launch of an ETP combining the cryptoasset and the precious metal.

21Shares has announced the listing of the 21Shares ByteTree BOLD Index ETP (BOLD) on the SIX Swiss Exchange. It is the world’s first ETP to consist of both Bitcoin and gold.

The company has worked with UK alternative investment specialist ByteTree Asset Management to create the ETP with the core objective of delivering protection against inflation through risk adjusted exposure to the two asset classes.

The ETP will track a customised benchmark/index comprising Bitcoin and Gold via monthly rebalancing with a weighting of 18.5% Bitcoin and 81.5% gold at the time of writing.

Promising rates of return

Hany Rashwan, CEO & Co-founder of 21Shares, said: “At 21Shares, we are excited to introduce the public to the world’s first Bitcoin and Gold ETP.

“This hybrid product combines the traditional value of Gold with the promising return rates of Bitcoin, which is considered by many as the new gold.

“With BOLD, we are entering completely new territory and again demonstrate the pioneering spirit of 21Shares within the ever-evolving crypto space.”

Both Bitcoin and gold are highly liquid assets deemed resistant to inflation and have delivered strong results historically.

ByteTree’s CEO Charlie Erith added: “The BOLD investment strategy is a unique approach to blending a high return digital asset with a traditional store of value, with a low correlation to equities and bonds.

“Gold has historically delivered portfolio protection in inflationary environments, while Bitcoin is the digital equivalent of gold with growing adoption by investors as a distinct asset class and a core store of wealth.

“In a time of rising structural inflation and heightened geopolitical risk, we believe this can act as an important risk and return diversifier in a balanced portfolio.”