21Shares Launches Bitcoin and Gold ETP on London Stock Exchange

A New Investment Product for UK Investors

21Shares, a leading global provider of exchange-traded products (ETP), has expanded access to a new investment product that combines exposure to Bitcoin and gold. The 21Shares Bitcoin Gold ETP (BOLD), which targets both Bitcoin (BTC) and gold, debuted on the London Stock Exchange (LSE) on Tuesday, according to an official announcement.

According to Russell Barlow, CEO of 21Shares, "Now that private investors in the UK have access to crypto ETPs, 21Shares is committed to providing a wider selection of innovative regulated products.” The launch on the LSE comes a few years after 21Shares introduced BOLD on the SIX Exchange in Switzerland in April 2022.

The BOLD ETP allocates two-thirds of its assets to gold and one-third to Bitcoin. Developed in partnership with investment research platform ByteTree Asset Management, BOLD is fully backed by the underlying assets and allocates most of its assets to gold. As of January 12, the 21Shares Bitcoin Gold ETP holds 65.85% gold, valued at $4,604.10 per ounce, and 34.15% Bitcoin, with a price of $90,806.

"By allocating equal risk between the two assets, BOLD offers a balanced approach for investors looking to hedge against inflation," the fund description states. Charles Morris, founder of ByteTree, emphasized that "Bitcoin and gold are increasingly seen as complementary assets in a world of persistent inflation and monetary uncertainty.”

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.