Combined Bitcoin & Gold Exchange-Traded Product Lists in Switzerland

by Eva Fox April 28, 2022

Combined Bitcoin & Gold Exchange-Traded Product Lists in Switzerland

The world's first combined Bitcoin and gold exchange-traded product was listed in Switzerland. The product was developed by ETP issuer 21Shares and crypto data provider ByteTree Asset Management.

The world's first exchange-traded product (ETP), which combines access to Bitcoin (BTC) and gold, has been listed on the Swiss SIX stock exchange, Coindesk reports. The product was developed by ETP issuer 21Shares and crypto data provider ByteTree Asset Management.

The ByteTree Asset Management BOLD ETP will track a customizable benchmark index including Bitcoin and gold that rebalances monthly according to the relative volatility of the two assets. What has been less volatile in the last 360 days will be given a higher weight. 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.

BOLD is reportedly the first ETP in the world to combine access to Bitcoin and gold. For several years now, Bitcoin has been referred to as digital gold. Therefore, a product that combines both Bitcoin and gold is expected to be highly popular.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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