21shares today announced the launch of its 21shares Bitcoin Gold ETP (BOLD) onto the London Stock Exchange (LSE).

BOLD is the fifth 21shares cryptocurrency product whose prospectus has been approved by the Financial Conduct Authority for UK retail investors after its Bitcoin (BTC) and Ethereum (ETH) offerings.

BOLD, developed in partnership with ByteTree Asset Management, blends gold and BTC to deliver an ETP of two store-of-value assets. Updated on a monthly basis, the allocation is determined by the inverse historical volatility of each holding, committing a higher share to the relatively more stable asset. The ETP aims to provide diversification benefits and protection against inflation.

By providing exposure to both gold and Bitcoin, the product allows investors to be part of a transition to a digital economy. With a more balanced risk approach compared to other cETNs available to retail investors, the aim of BOLD is that investors gain exposure to Bitcoin’s growth potential while maintaining the relative stability of gold, making it a viable option for those looking to navigate a volatile market.

BOLD rebalances monthly to maintain an optimal balance between Bitcoin and gold. By adjusting the weights based on their inverse volatility, this approach aims for approximately equal risk contribution from both assets. Monthly rebalancing is crucial in helping the portfolio stay aligned with its risk-managed strategy, especially in a volatile market. BOLD has a 3-year Sharpe ratio of 1.79 and AUM of $40.1m as of 12 January 2026.

Russell Barlow, CEO of 21shares, commented:

“BOLD is an exciting new product that aims to offer investors a potential hedge against inflation, exposure to Bitcoin’s growth potential, and the relative stability of gold. Now that retail investors in the UK have access to crypto ETPs, 21shares is dedicated to delivering a wider selection of innovative regulated products.”

Charles Morris, Founder and CIO of ByteTree Asset Management, added:

“Bitcoin and gold are increasingly viewed as complementary assets in a world of persistent inflation and monetary uncertainty. BOLD applies a disciplined, rules-based approach to combining them, aiming to provide a transparent solution for investors seeking diversified exposure to these assets.”