21Shares has started trading its new Bitcoin
It combines Bitcoin and gold into a single regulated investment vehicle. According to the announcement, the fund is backed by physical holdings and gives more weight to gold than to Bitcoin.
The product, known under the ticker symbols BOLD (for GBP) and BOLU (for US dollars), follows the UK Financial Conduct Authority’s recent move to allow crypto ETPs for retail investors.
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The asset split favors gold, with around two-thirds held in gold and one-third in Bitcoin. That breakdown is drawn from the fund’s data, which shows approximately 65.85% allocated to gold and 34.15% to Bitcoin at the time of writing.
The ETP is built in collaboration with ByteTree Asset Management. It rebalances each month using an inverse volatility model to even out risk over time.
The fund holds a net asset value of about $50.30 per share and manages roughly $40.2 million in assets, with a management fee of 0.65% per year.
It originally launched on the SIX Swiss Exchange in April 2022 and has since been listed on multiple European exchanges, including Deutsche Boerse Xetra, Euronext Amsterdam, Euronext Paris, and Nasdaq Stockholm.
The fund description notes that gold has long served as a hedge against inflation, while Bitcoin is increasingly viewed as “digital gold”.
Meanwhile, Grayscale began distributing the Ethereum staking exchange-traded fund (ETF) in cash. What did the company say? Read the full story.
