Guggenheim Plans To Invest In Bitcoin Via GBTC

Guggenheim, which manages approximately $275 bln in assets, has filed the US Securities and Exchange Commission (SEC) with a request to transfer approximately $500 mln from its Macro Opportunities Fund to the Grayscale GBTC Investment Trust.

Macro Opportunities Fund usually invests in fixed income securities. The investment team has likely identified bitcoin as an important macro opportunity and decided to add it to the fund to increase profits.

The SEC filing says the Guggenheim Macro Opportunities Fund plans to invest in bitcoin indirectly up to 10% of net asset value through the Grayscale Bitcoin Trust (GBTC). The fund's net assets are $4.97 bln. This means that the fund can invest up to $497 mln in GBTC. The fund has not yet allocated any funds into Bitcoin, as they are currently awaiting approval from the SEC.

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