21Shares, a leading cryptocurrency ETP issuer, is releasing a new ETP that tracks a combination of Bitcoin (BTC) and gold.

In particular, the Swiss company launched the 21Shares ByteTree BOLD ETP (BOLD) on Wednesday, a new product aiming to offer inflation protection by tracking an index that provides risk-adjusted exposure to both Bitcoin and gold.

The new hybrid ETP, which is listed on the SIX Swiss Exchange, is rebalanced monthly based on each asset’s inverse historical volatility. BOLD consists of 18.5 percent BTC and 81.5 percent gold at the time of its introduction.

The new ETP was created in conjunction with ByteTree Asset Management, a UK-based alternative investing provider. The product is being marketed as the first BTC and gold ETP in the world.

Charlie Erith, ByteTree CEO commented: “Gold has historically delivered portfolio protection in inflationary environments while Bitcoin is the digital equivalent of gold”. 

Many people in the crypto world see Bitcoin as a digital substitute for gold, according to Hany Rashwan, co-founder and CEO of 21Shares. 

He reportedly said: “This hybrid product combines the traditional value of gold with the promising return rates of Bitcoin, which is considered by many as the new gold.”

21Shares has hit a huge milestone with the new ETP since BOLD is the company’s 30th digital asset ETP. 21Shares, formerly known as Amun, is one of the leading crypto ETP providers in the world, having launched the world’s first multi-crypto ETP on the SIX Swiss Exchange in November 2018.

The Sandbox (SAND) ETP was created by 21Shares in April to provide crypto investors with exposure to the metaverse. The performance of SAND, a native token of the community-driven game platform “The Sandbox”, is tracked by the new metaverse-focused ETP.