Understanding What Drives BOLD
Disclaimer: Your capital is at risk. This is not investment advice.
ByteTree BOLD Monthly Rebalancing Report;
The 21Shares ByteTree BOLD ETP (BOLD) invests in Bitcoin and Gold. BOLD combines the world’s two most liquid alternative assets on a risk-adjusted basis. Due to their natural low correlation, the diversification benefits of holding both assets have been unusually high. Bitcoin prefers risk-on market conditions, while Gold prefers risk-off.
In October, BOLD rose by 5.9%, Bitcoin rose by 9.7%, and Gold rose by 4.2%, while global equities fell by 2.0% in USD terms. The target weights last month were 24.6% and 75.4% (Bitcoin to Gold). Price changes over the month led to the last day’s weights at 25.8% and 74.2%. This means the latest end-October rebalancing has seen 1.2% reduced from Bitcoin and added to Gold to meet the new target weights.
Bitcoin, Gold, BOLD, Equities USD – October 2024
