The 21Shares BOLD ETP debuts on the London Stock Exchange with a historic return of 122.5%

Source: Yellow Original Title: 21Shares BOLD ETP Debuts on London Stock Exchange with Record 122.5% Return

Original Link: Asset manager 21Shares launched its hybrid Bitcoin and gold exchange-traded product on the London Stock Exchange.

The BOLD ETP became the first product listed in the UK to offer retail investors a combined exposure to cryptocurrencies and traditional assets in a single vehicle.

The product has $40.1 million in assets as of January 12.

It charges an annual management fee of 0.65%.

What happened

The 21Shares BOLD ETP physically combines Bitcoin and gold through a monthly rebalancing strategy.

Asset allocation is determined by inverse historical volatility, weighting the portfolio toward the asset showing greater relative stability at the time of rebalancing.

The product originally debuted on Switzerland’s SIX Exchange in April 2022.

Since its launch, BOLD has achieved a 122.5% return in GBP terms through the end of 2025, outperforming both Bitcoin and gold separately over the same period.

Trading in London occurs after the UK Financial Conduct Authority decided to lift restrictions on cryptocurrency exchange-traded notes for retail investors in October 2025.

Why it matters

UK retail investors previously faced a four-year ban on access to cryptocurrency ETPs.

The regulatory change triggered $280 million in cryptocurrency ETN trading volume on the London Stock Exchange just during December 2025, making the UK the third-largest market in Europe by volume.

The BOLD product offers UK investors a risk-adjusted alternative to direct cryptocurrency exposure through traditional brokerage accounts and tax-advantaged vehicles like ISAs and SIPPs.

Several asset managers, including BlackRock, Bitwise, and WisdomTree, launched competing cryptocurrency ETPs following the regulatory change.