World's first combined Bitcoin, Gold ETP listed
The ETP has been developed and issued by 21Shares and cryptoasset data provider ByteTree Asset Management.
The first exchange-traded product (ETP) that combines Bitcoin and gold has been listed on the Swiss SIX stock exchange.
The ETP has been developed and issued by 21Shares and cryptoasset data provider ByteTree Asset Management.
The ETP will track a customized benchmark index comprising Bitcoin and Gold. It will rebalance on a monthly basis according to the comparative volatility of the two assets. Whichever has been less volatile over the past 360 days will be given the higher weighting.
After launch the weighting will be 18.5% Bitcoin and 81.5% gold.
"Bond to equity ratio of 60:40 has lost its lustre: 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, CIO of ByteTree.
Bitcoin gets compared to gold all the time due its perceived benefits in portfolios as an inflationary hedge.
