coindesk.com
The 21Shares Bitcoin and Gold ETP, known as BOLD, begins trading on the London Stock Exchange on Jan.13, offering an exchange-traded vehicle designed to deliver bitcoin-like returns with lower volatility.
BOLD blends the world’s two most liquid alternative assets in a single risk-weighted portfolio and will be the first U.K. listed product offering both within a single exchange-traded vehicle.
The introduction follows the lifting of U.K. restrictions on crypto exchange-traded products in October and comes amid rising demand for regulated digital asset investments. In the first month after the ban ended, the exchange noted $280 million of trading volume in exchange-traded notes, surpassed only by Xetra and SIX Swiss Exchange, according to IFA Magaine.
By combining bitcoin’s BTC$91,875.39 growth potential with gold’s role as a store of value, BOLD targets investors seeking diversification beyond traditional assets with lower volatility than holding bitcoin alone.
The product, which debuted in Switzerland in April 2022, is already trades on several major European exchanges. Since its introduction, it has returned 122.5% in sterling terms through the end of 2025, outperforming both bitcoin and gold over the same period.
The bitcoin and gold backing the product are held with institutional grade custodians. Allocations are rebalanced monthly to maintain an equal level of risk exposure rather than equal capital weights. The approach seeks to smooth performance while enhancing returns by trimming the stronger asset and adding to the weaker one.
The product trades intraday and carries a total expense ratio of 0.65%.