Guggenheim Partners has filed an amendment with the US Financial Constable (SEC) to allow its $ 5 billion Macro Opportunities Fund to gain exposure to Bitcoin.
Guggenheim prepares to buy BTC
A filing with the US Financial Constable (SEC) indicates that the next Wall Street institution to take a public stance in Bitcoin could also be among the largest to date: Guggenheim Partners .
Guggenheim Partners invests in different asset classes on behalf of companies, pension funds and sovereign wealth funds. The New York-based company employs 2,400 people in 17 cities across the United States, Europe and Asia and manages more than $ 275 billion in assets .
The company told the SEC on Friday, November 27:
„The Guggenheim Macro Opportunities Fund seeks to gain exposure to Bitcoin indirectly by investing up to 10% of its net asset value in Grayscale Bitcoin Trust (GBTC)“
The Guggenheim Macro Opportunities fund is said to currently have $ 5.3 billion in assets under management. Thus, the fund could invest up to $ 500 million in BTC.
According to the company’s website, the fund aims to provide exposure to „the most compelling ideas of the investment team in the current market environment“ and „the strategy opportunistically allocates funds. in assets to potentially improve returns or mitigate risk ”.
Grayscale holds 500,000 BTC
Grayscale is said to hold around 509,581 BTC . Grayscale’s investment solution allows investors to gain indirect exposure to cryptocurrencies, in the form of securities , while avoiding the hassle of buying and storing.
Grayscale’s total assets under management (AUM) currently stand at around $ 10.4 billion in cryptocurrency. The dedicated BTC fund called Grayscale Bitcoin Trust (GBTC) is naturally the largest with a value of $ 9.05 billion .
The fund also owns $ 1.37 billion in Ethers and has under management Litecoin (LTC), XRP, Stellar (XLM), ZCash (ZEC) and Horizen (ZEN).
The strong growth of the Grayscale fund and the Guggenheim initiative appear to be part of a series of investments indicating increased acceptance of Bitcoin by institutional and professional investors.