21Shares AG, the world’s largest issuer of crypto ETPs, has listed anew cryptocurrency ETP on the SIX Swiss Exchange . The product will trade under 21Shares ByteTree BOLD ETP (BOLD). One of the main aims of BOLD is to safeguard investors from inflation by maximizing their exposure to Bitcoin and Gold. In addition, the riskiness of the ETP assets will be taken into account when calculating their weighting. Therefore, gold will account for 81.5% of the total weight, with Bitcoin accounting for 18.5%. To our knowledge, BOLD is the first ETP to include both Bitcoin and Gold.
21 Share’s decision to create BOLD originates from a strong foundation. Given its long history as the world’s oldest asset class, gold has historically provided portfolio protection in inflationary environments. On the other hand, Bitcoin has established itself as the digital version of gold, given its increasing popularity as a store of wealth. For the most part, BOLD brings together the best of both old and new finance.
“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”, said Charlie Erith, CEO at ByteTree Asset Management.
BOLD is the product of collaborative work between 21Shares of the UK’s leading providers and managers of alternative investment ByteTree Asset Management. BOLD’s investments in Bitcoin and Gold weigh inversely in relation to their risk to provide inflation protection.
“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”, said Hany Rashwan, CEO & co-founder at 21Shares.
21Shares, based in Zug, Switzerland, and offices in Zurich and New York City, is the world’s first and largest issuer of cryptocurrency Exchange Traded Products (ETPs). Also, the company has the broadest product range of any crypto ETP issuer. Through bank and brokerage accounts, it intends to make cryptocurrency trading simple, safe and regulated for all investors.