Bitwise Asset Management, a leading US-based crypto investment firm, has launched a new exchange-traded product (ETP) combining bitcoin and gold, in collaboration with Diaman.
The Bitwise Diaman Bitcoin & Gold ETP (BTCG) is now listed on Euronext Paris and Euronext Amsterdam, offering investors exposure to both assets with a total expense ratio (TER) of 1.49%.
BTCG tracks the Diaman Bitcoin and Gold Index, which “dynamically reallocates” between bitcoin and gold based on the performance of each asset. The portfolio undergoes monthly rebalancing to optimize returns.
Bitcoin is often referred to as “digital gold” due to its fixed supply and similar characteristics to gold, such as serving as a hedge against inflation. Both assets tend to have low correlations with equities and fixed income, making them attractive to investors looking to diversify their portfolios.
Bradley Duke, Managing Director and Head of Bitwise Europe, commented on the launch: “I am excited to see the launch of yet another state-of-the-art product in our European markets. As crypto rapidly enters the mainstream, it is essential that we offer investors the full gamut of options available in traditional markets, including sophisticated hedges such as the ones we have developed in cooperation with Diaman Partners.”
Bitwise made its European debut earlier this year, acquiring ETC Group in August, followed by the launch of an Aptos staking ETP in November.
BTCG’s arrival comes three years after the launch of the 21Shares ByteTree BOLD ETP (BOLD), which was the world’s first strategy combining exposure to both precious metals and digital assets.
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