Introducing the 21Shares ByteTree BOLD ETP
In a groundbreaking move for cryptocurrency investment, 21Shares has launched a new exchange-traded product (ETP) dubbed the ByteTree BOLD ETP (BOLD). This creative mix of Bitcoin (BTC) and gold aims to provide investors with a unique solution for inflation protection while offering exposure to the volatility of both assets.
How Does the BOLD ETP Work?
Listed on the SIX Swiss Exchange, the BOLD ETP operates under a well-thought-out mechanism that rebalances monthly to adjust to the inverse historic volatility of BTC and gold. At the onset, investors will see an allocation of 18.5% in Bitcoin and a whopping 81.5% in gold. This approach is akin to mixing your favorite smoothie, but instead of bananas and spinach, we have digital gold and the ever-elusive Bitcoin!
Why Gold and Bitcoin Together?
ByteTree CEO Charlie Erith proposes that the pairing is not just a wild gamble but a strategic alliance: “Gold has historically delivered portfolio protection in inflationary environments while Bitcoin is the digital equivalent of gold.” So, if you find yourself clenching your pearls over rising inflation and geopolitical tensions, consider this combo as your financial buddy with benefits!
A Milestone for 21Shares
The launch of BOLD marks a significant achievement for 21Shares as it becomes their 30th digital asset ETP. Once known as Amun, the company has solidified its position as one of the largest providers of crypto ETPs globally, especially since the debut of their multi-crypto ETP in November 2018. Talk about a growth spurt!
What Lies Ahead for 21Shares?
Besides the new BOLD ETP, the company is set to continue its innovation in the financial landscape. Earlier this year, they released The Sandbox (SAND) ETP, aimed at investors interested in the burgeoning metaverse. Moreover, whispers in the investment community hint that 21Shares is gearing up to launch Australia’s first Bitcoin and Ether (ETH) ETFs. Stay tuned! In the world of crypto, if you blink, you might miss the next big thing.
