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21Shares listed its Bitcoin and gold exchange-traded product (ETP), BOLD, on the London Stock Exchange on January 13, 2026. BOLD combines Bitcoin and gold into a single, risk-managed product, showing a total return of 122.5% in GBP since its Swiss launch in April 2022.

The product employs a monthly risk-weighted rebalancing strategy, aiming to maintain equal risk exposure to both assets. BOLD is physically backed, with gold custody by JP Morgan and Bitcoin held by Anchorage Digital Bank and Copper Technologies.

The ETP has a total expense ratio of 0.65% and provides daily liquidity. The London listing follows the easing of FCA rules in October 2025, expanding access for institutional investors. Digital asset investment products experienced $454 million in net outflows last week, linked to changing expectations about US interest rates.