21Shares has listed the world’s first ETP combining bitcoin and gold on the SIX Swiss Exchange according to a press release. Information from 21Shares, a Zug-based supplier of portfolios for cryptocurrency ETPs, states that the combination of these two inflation-proof assets offers protection from inflation as the primary investment objective.
The 21Shares Byte Tree BOLD ETP was developed in collaboration with ByteTree Asset Management, which is based in London and is an asset management company specializing in providing alternative investment strategies. BOLD tracks a new index that contains bitcoin and gold via monthly rebalancing. The weighting is currently is 18.5 percent bitcoin and 81.5 percent gold. According to 21Share, the strategy always favors less risky assets according to historical volatility.
With this ETP, Share21 combines “the best of the old and new worlds of finance” according to 21Share, adding that the oldest asset class – gold – offers protection in inflationary environments, while bitcoin is considered to be “the digital equivalent of gold”.
CEO and co-founder Hany Rashwan comments: “With BOLD, we are entering completely new territory and again demonstrate the pioneering spirit of 21Shares within the ever-evolving crypto space.” Charlie Erith, CEO of ByteTree Asset Management, believes that BOLD could “act as an important risk and return diversifier in a balanced portfolio” at a time of “rising structural inflation and heightened geopolitical risk”.
Related news
Meet with an expansion expert
Our services are free of charge and include:
- Introduction to key contacts in industry, academia, and government
- Advice on regulatory framework, taxes, labor, market, and setting up a company
- Custom-made fact-finding visits, including office and co-working space