Following recent moves by insitutionals such as MicroStrategy, press reported that Guggenheim Partners LLC is taking public position in Bictoin. According to a filing to the U.S. Securities and Exchange Commission, “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”), a privately offered investment vehicle that invests in bitcoin.”
Massive! Another stamp of approval of bitcoin’s role in a macro portfolio. Guggenheim Partners, the $200 billion plus asset manager, said in an SEC filing that it might seek exposure to bitcoin via Grayscale’s GBTC. https://t.co/NUcGx3u2Sy
— Frank Chaparro (@fintechfrank) November 29, 2020
Bloomberg noted that “Guggenheim is reserving the right for its $5.3 billion Macro Opportunities Fund — which aims for total return via fixed income and other debt and equity securities — to invest in the Grayscale Bitcoin Trust. The trust’s shares are solely invested in Bitcoin, and track the digital asset’s price less fees and expenses.”
In this context, Crypto News Flash highlighted that the avalanche of institutional Bitcoin investors continues. In details, “With Jack Dorsey’s Square, PayPal and investor legends such as Paul Tudor Jones, Stanley Druckenmiller and Bill Pulte, to name but a few, more and more are recognizing Bitcoin’s potential in times of expansive monetary policy.”
