A recent filing with SEC, the US Securities and Exchange Commission, reveals that Guggenheim Partners has become the latest financial giant to show interest and enter the world of bitcoin investments. The New York-based firm is one of the worlds leading asset management and advisory company. It seeks to invest 10% in the Grayscale Bitcoin Trust.
The giant agreed with SEC to an indirect Bitcoin investment through a 10 percent exposure on Guggenheim’s Macro Opportunities Fund. The firm will be investing in the Grayscale Bitcoin Trust. The Macro Opportunities Fund is mainly utilized for investments in income securities. At the time of writing this, it has $5.2 billion in assets.
The 10% exposure through Guggenheim Partners’ macro fund equals around $500 million in new investment money for the Grayscale Bitcoin Trust. The trust is one of the biggest crypto investment firms in the world with a current hold of over $10 billion in digital assets.
Founded in 1999, Guggenheim Partners has some $275 billion in assets under its management. Currently, it is preoccupied with investment banking, insurance services, assets management, and capital markets.
Around the world, many leading financial institutions are leaning towards Bitcoin by showing an increasing amount of attention to the cryptocurrency, but also to other major digital coins. A notable example is PayPal, which issued an announcement that it is en route to launching a crypto payment service.