B Bitcoin

Guggenheim follows other institutional investors by seeking investment exposure to Bitcoin

29 November, 2020



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.

 

 

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.