21Shares Cut Fees on the BOLD ETP
21Shares have announced that the fees on the 21Shares ByteTree BOLD ETP (BOLD) have been reduced from 1.49% to 0.65% from Monday, 24th September 2024. It had always been intended that the fees would be lowered as the assets grew, and with $10.7 million in assets under management, that is now possible.
The BOLD Index was created to track the performance of Bitcoin and Gold on a risk-weighted basis. The index is rebalanced monthly according to the assets’ 360-day inverse volatility. At the end of August, that meant 25% in Bitcoin and 75% in Gold. Due to the low correlation between Bitcoin and Gold, rebalancing transactions have delivered excess returns of approximately 5% per year over buy and hold since Bitcoin has become a more mature asset.
The 21Shares ByteTree BOLD ETP (BOLD) was first listed on the SIX Exchange in Zurich on Wednesday, 27th April 2022. It trades in CHF, USD, GBP and EUR. It also has additional listings in Frankfurt, Paris and Amsterdam.
Since launch, $100 invested into BOLD has returned 48.7%, which compares with 50.7% for Bitcoin and 36.3% for Gold.
BOLD, Bitcoin and Gold Since inception
Remarkably, and due to the low correlation, the BOLD ETP has materially lower volatility than Bitcoin and similar volatility to Gold. That has resulted in attractive risk-adjusted returns shown by the Sharpe Ratio.
Contact
For information on investing in BOLD, contact bold@bytetree.com.
If your investment firm or media outlet would like a private briefing on BOLD, we will be happy to oblige. If a physical meeting is not possible, we can arrange a Zoom call.
Further Information
Research
ByteTree provides more in-depth research on Bitcoin and Gold on our Substack.