21Shares Bitcoin-Gold ETP lists on the London Stock Exchange… diversified exposure via a single product

Global asset manager 21Shares has listed an exchange-traded product (ETP) on the London Stock Exchange that allows investors to gain exposure to both Bitcoin (BTC) and gold at the same time.

According to crypto-focused media outlet CoinDesk on the 13th, the 21Shares Bitcoin-Gold ETP (BOLD) began trading on the London Stock Exchange on the day (local time). The product is structured to hold physical Bitcoin and physical gold, and is designed to provide simultaneous exposure to both assets through a single investment vehicle.

BOLD features a risk-weighted portfolio that combines Bitcoin’s growth potential with gold’s role as a store of value. Rather than allocating by capital weight, it adjusts asset weights based on risk contribution, and uses monthly rebalancing to reduce volatility. Through this, it aims for a relatively more stable return profile than holding Bitcoin alone.

The product is the first exchange-traded product in the UK market to bundle both Bitcoin and gold. It was launched as demand for regulated digital-asset investment has risen rapidly after UK authorities eased regulations on crypto-linked exchange-traded products in October last year. In fact, trading in crypto-linked exchange-traded notes in the UK totaled $280 million in the month following the deregulation, according to estimates.

In addition, the physical Bitcoin and gold are held with an institutional-grade custodian, and the total expense ratio is 0.65% per year. The product can be traded intraday, offering the same accessibility as existing exchange-traded products in terms of liquidity.

BOLD was first launched in Switzerland in April 2022 and has since traded on major European exchanges. As of end-2025, its cumulative return in pound sterling terms was 122.5%, outperforming the results of holding Bitcoin and gold separately over the same period.