The first exchange traded fund (ETF) to combine gold and Bitcoin (BTC) has launched on the Swiss Stock Exchange in Europe.
ByteTree Asset Management is behind the new ETF that has listed on the SIX Swiss Exchange under the ticker symbol “BOLD.” A German listing of the ETF is expected to follow later this year.
While gold and Bitcoin ETFs are widely available independently, this is the first ETF to combine gold with Bitcoin, which some analysts and investors refer to as “digital gold.”
ByteTree Asset Management says the fund will rebalance monthly based on 360-day historic volatility, with the less volatile asset having a higher weighting to maximise risk-weighted returns. This means that gold will most likely dominate the ETF, with a weighting of between 70% and 90%.
Annual fees for the BOLD ETF will be 1.49%. ByteTree says costs were pushed up by the difficulty of finding a custodian able and willing to handle both physical gold and Bitcoin.
