Guggenheim Partners Plans to Buy up to $500 Million Worth of Bitcoin
The $275 billion company has filed with the SEC to allocate over $500 million from it’s Macro Opportunities fund into Grayscale’s GBTC Investment Trust.
The Macro Opportunities fund typically invests in fixed income securities so this is a departure from the fund’s traditional investment strategy.
The investment team has likely determined that Bitcoin poses a major macro opportunity and has decided to add it to the fund to enhance returns and/or mitigate risks.
“The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (“GBTC”),” the SEC filing reads.
The current Assets Under Management for the Macro Opportunities fund is $5.3 billion.
The fund has not yet allocated any funds into Bitcoin, as they are currently awaiting approval from the SEC.
To learn more about this story and others, sign up for a consulting call at IntuitConsultants.com
// CLICK HERE FOR MORE BLOCKCHAIN NEWS
Donate BTC: 13xyfdE1ERCu6ZaZ6Ejj7x6B7au8GJXont
ERC 20: 0x3930890DC36E40e17c280aF5A80cEAC30732cFB9