21Shares Launches Bitcoin-Gold ETP to Navigate Inflationary Pressures
Event summary
- 21Shares launched the 21shares Bitcoin Gold ETP (BOLD) on the London Stock Exchange on January 13, 2026.
- BOLD combines Bitcoin and gold, dynamically allocating assets based on inverse volatility, managed in partnership with ByteTree Asset Management.
- The ETP has a 0.65% management fee and an ISIN of CH1146882308, trading in GBP.
- BOLD currently has $40.1 million in Assets Under Management (AUM) as of January 12, 2026, and a 3-year Sharpe ratio of 1.79.
- This is the fifth cryptocurrency product from 21Shares approved by the FCA for UK retail investors.
The big picture
21Shares is capitalizing on the growing demand for regulated crypto exposure within the UK retail market, positioning BOLD as a hybrid asset class appealing to investors seeking a balance between Bitcoin’s growth potential and gold’s perceived stability. The product’s dynamic allocation strategy and physically backed structure aim to mitigate risk, but its success hinges on the continued regulatory acceptance of crypto ETPs and the performance of both underlying assets.
What we're watching
- Regulatory Scrutiny
- The FCA's continued acceptance of crypto ETPs will dictate the pace of retail adoption and the potential for further product innovation from 21Shares.
- Volatility Dynamics
- The effectiveness of BOLD’s volatility-based rebalancing strategy will be tested as Bitcoin and gold experience periods of correlated or divergent price movements.
- AUM Growth
- Sustained AUM growth will depend on BOLD’s ability to attract and retain investors amidst increasing competition in the crypto ETP space.
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