TLDR

21Shares has launched its Bitcoin and Gold ETP called BOLD on the London Stock Exchange.
The ETP began trading on January 13, 2026 under the tickers BOLD for GBP and BOLU for USD.
This is the first product on the LSE to combine Bitcoin and gold in a risk-managed structure.
The launch follows the UK FCA’s decision to allow Bitcoin ETPs for professional investors in October 2025.
BOLD uses a monthly rebalancing strategy that adjusts asset weights based on 360-day inverse volatility.

Switzerland-based 21Shares has listed its Bitcoin and Gold ETP, BOLD, on the London Stock Exchange, offering a dual-asset investment option for professional investors, with trading starting Tuesday, January 13, 2026, under the tickers BOLD (GBP) and BOLU (USD), marking the first such risk-managed product on the UK exchange.

21Shares Introduces Physically-Backed BOLD ETP in London

21Shares has launched its Bitcoin and Gold ETP in London following the FCA’s October 2025 decision to lift restrictions. The move allows UK professional investors access to Bitcoin ETPs under regulated conditions.

The new ETP blends exposure to Bitcoin and gold in a single product, using a risk-weighted strategy. According to the firm, BOLD aims to reduce volatility by increasing allocation to the less volatile asset.

BREAKING

The 21Shares Bitcoin and Gold ETP (BOLD) has listed on the London Stock Exchange, 13 January 2026.

Charlie Morris, ByteTree Founder and Creator of BOLD, commented:

“This listing on the London Stock Exchange is another significant milestone for BOLD having already… pic.twitter.com/8dYGNcq6XU

— ByteTree (@ByteTree) January 13, 2026

The product is physically backed, with gold held by JPMorgan and Bitcoin custody handled by Anchorage Digital Bank N.A. and Copper Technologies. 21Shares stated, “The structure balances the risk between Bitcoin and gold, not the capital invested.”

The total expense ratio is 0.65%, with intraday trading to support institutional investor needs. The listing adds to its existing presence on exchanges in Zurich, Frankfurt, Paris, Amsterdam and Stockholm.

Monthly Rebalancing Strategy Targets Risk Adjustment

Unlike a 50/50 fixed split, BOLD uses a monthly rebalancing strategy based on 360-day inverse volatility. This means the lower-volatility asset gets a higher allocation in the portfolio.

When Bitcoin fell in February 2025, the ETP increased exposure to restore target risk levels. The strategy systematically reduces weight in the stronger-performing asset and adds to the weaker one.

The company reports this model has generated an annual 5–7% excess return on average. This return comes with a smoother performance profile, closer to gold than Bitcoin.

Since its Swiss debut in April 2022, BOLD returned 122.5% in GBP through the end of 2025. That compares with 111.3% for Bitcoin and 113.0% for gold individually.

The BOLD Index has returned 450.3% since Bitcoin’s 2017 peak, outperforming both assets and a static 50/50 allocation. This suggests benefits from rebalancing during volatile markets.

Market Conditions Shift Following BOLD’s UK Debut

The London listing arrives as market sentiment turns. CoinShares data shows digital asset investment products saw $454 million in outflows last week.

This follows a four-day streak of $1.3 billion in withdrawals, reversing early 2026 inflows. At the start of the year, inflows reached $1.5 billion in two trading days.

Analysts link the outflows to reduced expectations for a March Fed rate cut. Recent US data suggests inflation may stay elevated longer than expected.

The post 21Shares Lists Bitcoin-Gold ETP on LSE After FCA Crypto Greenlight appeared first on CoinCentral.

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Filed under: News - @ January 13, 2026 11:22 am