21Shares at present launched its Bitcoin and gold exchange-traded product, the 21Shares Bitcoin Gold ETP (BOLD), on the London Inventory Trade, increasing the vary of crypto-linked funding merchandise obtainable to UK retail buyers.
BOLD is the fifth cryptocurrency product from 21Shares to obtain prospectus approval from the UK Monetary Conduct Authority. It follows the agency’s current Bitcoin and Ethereum choices and comes as demand grows for regulated exposure to digital assets via conventional market infrastructure.
The product trades on the LSE in kilos sterling beneath the ticker BOLD and carries a 0.65% annual administration charge, the corporate said.
It’s totally bodily backed by its underlying property, with Bitcoin and gold held in institutional-grade custody and saved offline, a construction supposed to cut back counterparty and custody threat in comparison with many retail funding choices.
Bitcoin and gold as a method of threat administration
Developed in partnership with ByteTree Asset Administration, BOLD combines Bitcoin and gold right into a single automobile designed round threat administration somewhat than fastened allocations.
The ETP rebalances month-to-month utilizing inverse historic volatility, allocating extra weight to the much less risky asset at every rebalance. The intention is to realize roughly equal threat contribution from each Bitcoin and gold, somewhat than a easy 50/50 capital break up.
This construction is occurring as gold surges to new highs. Gold’s long-standing position as a retailer of worth is meant to offset Bitcoin’s sharper worth swings, notably throughout risk-off environments, the corporate mentioned.
As of January 12, 2026, BOLD had $40.1 million in property beneath administration and reported a three-year Sharpe ratio of 1.79, based on 21Shares. The product adjusts its holdings every month to remain aligned with its volatility-based framework, trimming the stronger asset and including to the weaker one.
Russell Barlow, CEO of 21Shares, mentioned the London itemizing displays the agency’s push to broaden entry to regulated crypto merchandise within the UK.
“BOLD goals to offer buyers publicity to Bitcoin’s progress potential whereas retaining the relative stability of gold,” Barlow mentioned, including that the product is positioned as a possible hedge in opposition to inflation.
Charles Morris, founder and chief funding officer of ByteTree Asset Administration, described Bitcoin and gold as more and more complementary property. He mentioned BOLD applies a rules-based course of to mix them in a clear construction designed for buyers navigating persistent inflation and financial uncertainty.
Again in October 2025, the U.Okay.’s Monetary Conduct Authority lifted its four-year ban on retail entry to bitcoin and crypto exchange-traded notes, permitting companies to supply cETNs on FCA-approved exchanges such because the London Inventory Trade and Cboe UK.
The transfer adopted months of session and signaled a extra open—although nonetheless cautious—method to crypto regulation.
FCA digital finance government David Geale mentioned the choice mirrored a extra mature and better-understood market, whereas sustaining investor protections.
In contrast to ETFs, ETNs are debt devices that observe the worth of property like bitcoin with out requiring buyers to carry the underlying crypto.
The content published on Finance Insider Today is for informational and educational purposes only. It does not constitute financial advice, investment advice, or any other form of professional advice. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Finance Insider Today is not responsible for any financial losses resulting from decisions made based on information published on this website. Past performance is not indicative of future results. Financial markets carry significant risk. Never invest more than you can afford to lose.
