2020-11-30 16:24 |
Global investment firm Guggenheim Trust Fund filed an SEC application last Friday to purchase Grayscale’s Bitcoin product, GBTC. The fund can invest north of $500 million in GBTC.
Bitcoin’s Macro OpportunityGuggenheim Macro Opportunities (GIOIX) is one of eight funds managed by the parent firm, Guggenheim Trust Fund, with a $233 billion net value.
The SEC filing, dated Nov. 30, reads:
“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’).”
The fund’s profile consists of fixed-income assets such as bonds and cash.
According to Bloomberg, the asset under management (AUM) of GIOIX is $5.3 billion, extending their GBTC margin to $530 million.
Grayscale LLC is the world’s largest cryptocurrency trust fund with over $12 billion in AUM. Its Bitcoin Trust Fund (GBTC) manages over $9 billion in BTC.
Currently, Microstrategy Inc. has the largest exposure to the leading crypto among publicly-listed companies. In August and September, the firm invested $425 million in BTC, which is presently valued at $713 million.
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