Bitcoin
$37,732.22-0.04%
Ethereum
$2,043.49+0.79%
Binance Coin
$226.75-0.03%
XRP
$0.60702301-0.17%
Solana
$59.90+1.64%
Cardano
$0.37491405-1.90%
Dogecoin
$0.08265984+2.41%
Tron
$0.11141185+2.83%
Toncoin
$2.44+0.86%
Chainlink
$14.32-1.16%
Avalanche
$21.33+1.93%
Polkadot
$5.46+6.04%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Finance

World's First Combined Bitcoin, Gold Exchange-Traded Product Listed in Switzerland

The product was developed by ETP issuer 21Shares and crypto data provider ByteTree Asset Management.

By Jamie Crawley
AccessTimeIconApr 27, 2022 at 8:07 a.m. UTC
Updated May 11, 2023 at 4:17 p.m. UTC
Gold bars (Unsplash)

(Unsplash)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The world's first exchange-traded product (ETP) that combined exposure to bitcoin (BTC) and gold has been listed on the Swiss SIX stock exchange.

  • The product was developed by ETP issuer 21Shares and crypto data provider ByteTree Asset Management.
  • The ByteTree Asset Management BOLD ETP will track a customized benchmark index comprising bitcoin and gold, which rebalances on a monthly basis according to the comparative volatility of the two assets. Whichever has been less volatile over the past 360 days will be given the higher weighting.
  • At launch the weighting will be 18.5% bitcoin and 81.5% gold.
  • "Bond-to-equity ratio of 60:40 has lost its luster: BOLD is the new 60:40. Gold's volatility is now lower than Nasdaq, but the yellow metal has offered better returns than tech stocks, tech stocks are falling because of peak internet. So, bitcoin is likely to outperform Nasdaq in both bull and bear markets," said Charlie Morris, ByteTree's founder and chief investment officer.
  • While crypto ETPs have become widespread in Europe with more than 70 now listed, BOLD appears to the be the first that combines bitcoin and gold exposure.
  • Bitcoin has often been compared to gold becuase its perceived benefits in portfolios as a hedge against inflation. Investment products that combine the benefits of the two while offsetting some of their risks could therefore prove popular as inflation in the eurozone area hit 7.5% last month.

Read more: Bitcoin's Correlation With Gold-Backed PAXG Token Weakens to Record Low

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.