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Bitcoin and Gold Meet London
The worlds of traditional finance and digital assets continue to converge as 21Shares expands its innovative investment offerings in the United Kingdom. The global exchange-traded product (ETP) provider has officially launched its Bitcoin Gold ETP (BOLD) on the London Stock Exchange (LSE), giving UK investors regulated exposure to both Bitcoin and gold through a single financial product.
The launch marks a significant milestone for crypto-linked investment products in the UK, especially as regulators have recently opened the door for retail access to crypto ETPs. With Bitcoin increasingly viewed as “digital gold,” the BOLD fund aims to balance innovation with stability in a volatile macroeconomic environment.
What Is 21Shares BOLD ETP
The 21Shares Bitcoin Gold ETP, trading under the ticker BOLD in British pounds and BOLU in US dollars, is a physically backed investment product that tracks the performance of both Bitcoin (BTC) and gold. Unlike traditional crypto funds that focus solely on digital assets, BOLD combines the price movements of two historically distinct asset classes.
The fund is designed to allocate approximately two-thirds of its assets to gold and one-third to Bitcoin, creating a diversified portfolio that seeks to reduce volatility while maintaining upside exposure. This hybrid structure positions BOLD as a hedge-focused investment, particularly attractive during periods of inflation and monetary uncertainty.
Asset Allocation Strategy Explained
As of January 12, BOLD’s portfolio consisted of 65.85% gold, valued at approximately $4,604 per ounce, and 34.15% Bitcoin, priced near $90,806 at the time of reporting. This allocation is not based on equal capital weighting but on equal risk contribution, ensuring neither asset disproportionately impacts overall fund performance.
According to the fund’s description, this balanced risk approach allows investors to benefit from gold’s long-standing role as a store of value while capturing Bitcoin’s potential for growth as a scarce, decentralized digital asset. This structure appeals to both conservative investors and crypto-curious market participants.
Designed for Inflation Protection
One of the primary investment narratives behind the BOLD ETP is inflation hedging. Gold has historically been used to protect wealth during periods of currency debasement, while Bitcoin has increasingly earned a reputation as “digital gold” due to its fixed supply and decentralized nature.
“Bitcoin and gold are increasingly seen as complementary assets in a world of persistent inflation and monetary uncertainty,” said Charles Morris, founder and chief investment officer of ByteTree Asset Management, which partnered with 21Shares to develop the fund.
The ETP aims to reflect this evolving market perception by blending old and new forms of value preservation.
UK Expansion and Market Access
The London Stock Exchange listing represents a major expansion for 21Shares in the UK market. While BOLD first debuted on the SIX Swiss Exchange in April 2022, the company has since expanded listings across major European exchanges, including Deutsche Börse Xetra, Euronext Amsterdam, Euronext Paris, and Nasdaq Stockholm.
“Now that retail investors in the UK have access to crypto ETPs, 21Shares is dedicated to delivering a wider selection of innovative regulated products,” said Russell Barlow, CEO of 21Shares.
The LSE launch reflects growing regulatory clarity and investor demand for compliant crypto investment vehicles.
Fees, NAV, and Fund Size
The 21Shares BOLD ETP currently has a net asset value (NAV) of $50.3, with total assets under management (AUM) of $40.2 million. The fund charges an annual management fee of 0.65%, which covers custody, administration, and ongoing operational costs.
Given its dual-asset exposure and physical backing, the fee structure is competitive compared to traditional commodity ETFs and crypto-focused ETPs. This makes BOLD an accessible option for long-term investors seeking diversification without directly holding Bitcoin or physical gold.
21Shares’ Growing Crypto Portfolio
BOLD is just one of many crypto ETPs offered by 21Shares. The firm also operates investment products tracking popular altcoins such as Aave (AAVE), Cardano (ADA), Chainlink (LINK), and Polkadot (DOT). As of last week, 21Shares managed approximately $4 billion in European crypto ETP assets, accounting for nearly 2% of the $181.9 billion global crypto ETP market, according to CoinShares data.
This expanding portfolio highlights 21Shares’ role as a key bridge between traditional financial markets and the digital asset economy.
Why BOLD Matters for Investors
The launch of the Bitcoin-Gold BOLD ETP in London underscores a broader trend: investors are no longer choosing between traditional safe havens and emerging digital assets—they are combining them. For UK investors seeking regulated exposure, inflation protection, and portfolio diversification, BOLD offers a unique middle ground.
As institutional interest in crypto continues to grow, hybrid products like BOLD could play a pivotal role in shaping the next phase of mainstream crypto adoption.