21Shares at the moment 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 traders.
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 publicity to digital belongings by means of conventional market infrastructure.
The product trades on the LSE in kilos sterling below the ticker BOLD and carries a 0.65% annual administration payment, the corporate stated.
It’s absolutely bodily backed by its underlying belongings, with Bitcoin and gold held in institutional-grade custody and saved offline, a construction supposed to cut back counterparty and custody danger in comparison with many retail funding choices.
Bitcoin and gold as a method of danger administration
Developed in partnership with ByteTree Asset Administration, BOLD combines Bitcoin and gold right into a single automobile designed round danger administration slightly than fastened allocations.
The ETP rebalances month-to-month utilizing inverse historic volatility, allocating extra weight to the much less unstable asset at every rebalance. The intention is to realize roughly equal danger contribution from each Bitcoin and gold, slightly than a easy 50/50 capital cut 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, significantly throughout risk-off environments, the corporate stated.
As of January 12, 2026, BOLD had $40.1 million in belongings below administration and reported a three-year Sharpe ratio of 1.79, in keeping with 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, stated the London itemizing displays the agency’s push to broaden entry to regulated crypto merchandise within the UK.
“BOLD goals to provide traders publicity to Bitcoin’s development potential whereas retaining the relative stability of gold,” Barlow stated, 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 belongings. He stated BOLD applies a rules-based course of to mix them in a clear construction designed for traders navigating persistent inflation and financial uncertainty.
Again in October 2025, the U.Ok.’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—strategy to crypto regulation.
FCA digital finance government David Geale stated 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 belongings like bitcoin with out requiring traders to carry the underlying crypto.
