Bitcoin And Gold Combined Into A Single ETP And Launched In Europe.
02 May 2022, 08:00
Bitcoin And Gold Combined Into A Single ETP And Launched In Europe
An exchange-traded product combining Bitcoin and gold has been launched in Europe. The issuers of the ETP believe that with the current widespread inflationary woes, the investment vehicle will provide investors with an avenue to protect their assets and receive substantial returns.
The BOLD ETPA brainchild of Swiss ETP provider 21Shares and U.K. wealth managers ByteTree Asset Management, the revolutionary 21Shares ByteTree BOLD ETP is the first to combine Bitcoin and gold. Both parties revealed in a statement that the ETP is a spot product aimed at combining the best of both worlds, referring to gold’s position as the preferred store of value for TradFi and the similar belief held about Bitcoin amongst crypto enthusiasts.
Inflation has reached record levels in various countries in Europe, following long periods of fiat printing and low-interest rates, a situation now heightened by the supply bottle-neck due to the Ukraine crisis. According to the ETP issuers, investors stand to benefit from an investment vehicle like this which combines the inflation hedging potential of gold and the upside potential of Bitcoin in this time of rising inflation.