The fund manager has been active in the crypto sector for a long time, and the fund’s manager Daniel Masters has been in the news for a number of reasons over the past few weeks.
Some of the world’s top fund managers are looking for ways to capitalize on the surging value of cryptocurrencies with the launch of a new fund from Guggenheim Partners worth $270 billion. The new fund, called the Guggenheim Bitcoin Fund (GBTC), will give its investors access to bitcoin futures, the first physical investment vehicles for the cryptocurrency. The fund will be launched by Guggenheim Digital Currency Fund, which is managed by Guggenheim Partners, a U.S. firm.
The New York-based Guggenheim Digital Currency Fund (GDC) is seeking permission from the U.S. Securities and Exchange Commission (SEC) to invest in Bitcoin, according to a recent filing.. Read more about when to buy bitcoin 2021 and let us know what you think.Guggenheim Partners, one of the world’s largest fund managers with $270 billion in client assets under management, wants to access bitcoin as part of a new fund, according to a filing yesterday with the US Securities and Exchange Commission (SEC).
They’re coming for the Bitcoin
The fund, officially called the Guggenheim Active Allocation Fund, will invest in cryptocurrencies (primarily bitcoin) as part of a broader suite of traditional and alternative investments. It should use quantitative and qualitative analysis to identify securities with attractive relative value and risk-reward characteristics. BTC Institutional Alert : A few minutes ago, Guggenheim registered a new fund called Guggenheim Active Allocation Fund with the US Securities and Exchange Commission. This is very interesting in light of Scott Minerd’s tweet on Friday. Page 7 of document : The Fund may seek exposure to investments…. – MacroScope (@MacroScope17) 1. June 2021 The fund may seek to invest in cryptocurrencies (particularly bitcoin), often referred to as virtual currencies or digital currencies, through cash-settled derivatives, the press release said, explaining that this includes cash-settled, exchange-traded futures contracts or investment vehicles that offer investments in bitcoin or other cryptocurrencies through direct investments. Still, the picture is not rosy for bitcoin when it comes to applications. Guggenheim discusses the many risks that cryptocurrencies face, including their volatile nature, the possibility of offline trading, cyber risks, negative public perception, and the general risks associated with any technology investment. On the other hand, however, Guggenheim noted several factors that contribute to the cryptocurrency market as a whole: Factors influencing the future development of cryptocurrencies include, but are not limited to, sustained global growth or a possible halt or reversal in the adoption and use of cryptocurrencies, changes in consumer demographics and public preferences, and the use of networks of digital assets to develop smart contracts and distributed applications.
From haussemarkt to baissemarkt
The development comes after Guggenheim applied to the U.S. Securities and Exchange Commission last year to invest 10% of its $5.3 billion Macro Opportunity Fund in the Grayscale Bitcoin Trust, a regulated institutional vehicle that gives investors access to bitcoin. Scott Minerd, CIO of Guggenheim, has since commented on the price of bitcoin on several occasions. Last year, he said it could be worth $400,000 in the next few years, citing deficit and inflation protection as two key features. Minerd changed to a bearish sentiment in April, saying the currency could fall more than 50% after reaching peaks of $62,000. At the time, few heeded the warnings, and bitcoin fell to $29,000 in May.
Gaining an advantage in the crypto asset market
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The Guggenheim Digital Asset Fund has been on a roll in 2017. The hedge fund, which is intended to invest in blockchain technology, has attracted investments from a number of major investors, including Fidelity and State Street.. Read more about future of cryptocurrency 2021 and let us know what you think.
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