- The 21Shares ByteTree BOLD ETP is listed on the SIX Swiss Exchange and offered by 21Shares and ByteTree
- A physically backed ETP which rebalances Bitcoin and Gold monthly in inverse proportion to their risk
- BOLD is designed as a core component within a balanced portfolio, aiming to deliver uncorrelated long-term returns and wealth protection in an inflationary environment
NEW YORK, April 27, 2022 /PRNewswire/ — 21Shares AG (“21Shares”), the world’s largest issuer of cryptocurrency exchange traded products (ETPs), today announces the listing of the 21Shares ByteTree BOLD ETP (BOLD) on the SIX Swiss Exchange, the world’s first ETP that combines Bitcoin and Gold.
BOLD has been developed in partnership with ByteTree Asset Management, a UK specialist provider and manager of alternative investment strategies. BOLD’s core investment objective is to deliver protection against inflation via optimized risk adjusted exposure to Bitcoin and Gold with assets weighted in inverse proportion to their risk.
The 21Shares ByteTree BOLD ETP will track a new customized benchmark/index comprising Bitcoin and Gold via monthly rebalancing. The weighting at launch is 18.5% Bitcoin and 81.5% Gold.
“At 21Shares, we are excited to introduce the public to the world’s first Bitcoin and Gold ETP. 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, said Hany Rashwan, CEO & co-founder at 21Shares. With BOLD, we are entering completely new territory and again demonstrate the pioneering spirit of 21Shares within the ever-evolving crypto space.”
BOLD combines the best of the old and new worlds of finance. As the oldest asset class, Gold has historically delivered portfolio protection in an inflationary environment and Bitcoin is regarded as the digital equivalent of Gold, considering its growing adoption as a store of wealth. Both are highly liquid assets deemed resistant to inflation and have delivered strong returns historically.
“The BOLD investment strategy is a unique approach to blending a high return digital asset with a traditional store of value, with a low correlation to equities and bonds, said Charlie Erith, CEO at ByteTree Asset Management. Gold has historically delivered portfolio protection in inflationary environments, while Bitcoin is the digital equivalent of gold with growing adoption by investors as a distinct asset class and a core store of wealth. In a time of rising structural inflation and heightened geopolitical risk, we believe this can act as an important risk and return diversifier in a balanced portfolio.”
Arielle Sobel, Head of Communications, 21Shares
21Shares is the first issuer of crypto Exchange Traded Products (ETPs) with the largest product suite and has one of the most advanced and sophisticated research teams. In 2018, it pioneered the world’s first cryptocurrency index listing on the SIX Swiss Exchange. 21Shares aims to provide all investors with an easy, secure, and regulated way to buy, sell, and short cryptocurrency through existing bank and brokerage accounts. The 21Shares issuance platform, Onyx, is used by both 21Shares and third parties to issue and operate cryptocurrency ETPs around the world. 21Shares is a Swiss company registered in Zug, Switzerland with offices in Zurich and New York City. For more information, please visit www.21shares.com.
About ByteTree Asset Management:
ByteTree is a specialist in digital asset data provision and analysis. Today, it is a provider of institutional-grade crypto-asset data, used by investors globally, and with BOLD it is now adviser to two institutional grade products, BOLD and the Bitcoin and General Fund. The company was formed in 2014 to source date from the Bitcoin Network, and to provide fundamental data for professional and institutional investors. It developed one of the first multi-coin price indices in the world to analyse and monitor the growth of cryptocurrencies. ByteTree Asset Management is authorised and regulated by the Financial Conduct Authority FCA. The firm was created in 2020 to provide investors with institutional-grade products to invest in crypto assets. ByteTree AM provides investment solutions that combine robust operational infrastructure with rigorous analysis of the underlying ecosystem.
This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. This document constitutes advertisement within the meaning of the Swiss Financial Services Act and not a prospectus. This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities to sell or a solicitation of an offer to purchase in or into the United States, Canada, Australia, or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. This document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The Securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. In any EEA Member State (other than the France, Germany, Italy, Austria, Belgium, Croatia, Czech Republic, Denmark, Finland, Hungary, Ireland, Luxembourg, Malta, Netherlands, Norway, Poland, Romania, Slovakia, Spain, Lichtenstein) that has implemented the Prospectus Regulation (EU) 2017/1129, together with any applicable implementing measures in any Member State, the “Prospectus Regulation”) this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation. Exclusively for potential investors in France, Germany, Italy, Austria, Belgium, Croatia, Czech Republic, Denmark, Finland, Hungary, Ireland, Luxembourg, Malta, Netherlands, Norway, Poland, Romania, Slovakia, Spain, Liechtenstein the 2021 Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com. The approval of the 2021 Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the 2021 Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities.
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