Monday, October 2, 2023

Institutional Giant Guggenheim eyes Bitcoin

By DAC000 , in Bitcoin Cryptocurrency Fidelity , at November 29, 2020 Tags: , ,

Last Friday Guggenheim Funds Trust filed an amendment with the Securities and Exchange Commission (SEC) which would allow its Macro Opportunities Fund to hold Bitcoin. The filing specifically states Guggenheim “may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (GBTC).” For perspective, The Macro Opportunities fund has about $5B AUM. The SEC filing is about a ten minute read.

Comment: another example of Institutional money prepping to hold Bitcoin. IAs Fidelity said last week, 2020 is the year Bitcoin was adopted by Institutional Investors. Even as a very large number of retail investors are oblivious to what’s going on.