The World’s First Bitcoin and Gold Exchange-Traded Product Is Listed in Switzerland

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

• ETP provider 21Shares and crypto data supplier ByteTree Asset Management collaborated to create the product.

• The ByteTree Asset Management BOLD ETP will track a customized benchmark index that includes bitcoin and gold and rebalances weekly based on the relative volatility of the two assets. Whichever has been less volatile over the last 360 days will be given more weighting.

• The weighting will be 18.5 percent bitcoin and 81.5 percent gold upon launch.

• “The 60:40 bond-to-equity ratio has lost its luster: BOLD is the new 60:40. Gold’s volatility is currently lower than that of the Nasdaq, but the yellow metal has provided greater returns than tech companies, which are sliding because to peak internet. As a result, bitcoin is expected to beat the Nasdaq in both bull and bear markets “ByteTree’s founder and chief investment officer, Charlie Morris, stated

• While there are now over 70 crypto ETPs listed in Europe, BOLD looks to be the first to mix bitcoin and gold exposure.

• Bitcoin has frequently been compared to gold due to its purported usefulness in portfolios as an inflation hedge. As the eurozone’s inflation rate reached 7.5 percent last month, investment solutions that combine the benefits of the two while mitigating some of their risks may become popular.