21shares launches BOLD ETP combining bitcoin and gold in a single regulated product

Approved by Archax 12/01/2026

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13 January 2026, London: 21shares today announces 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. 

• Name: 21shares Bitcoin Gold ETP
• Ticker: BOLD
• ISIN: CH1146882308
• Exchange: LSE
• Currencies: GBP
• Fee: 0.65% management fee per annum

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.

BOLD is 100% physically backed by the underlying assets which are kept in cold storage by an institutional-grade custodian, offering enhanced security compared to many custody options available to individual investors.

Russell Barlow, CEO of 21shares, comments: “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.”