Guggenheim Fund Mulls Investment in Grayscale Bitcoin Trust

Guggenheim Strategic Opportunities Fund GOF is considering gaining some “investment exposure" to Bitcoin, a filing shows.

What Happened: The global investment firm with over $295 billion in assets filed an amendment with the Securities and Exchange Commission on Friday, saying that it’s considering investing in Bitcoin through its Macro Opportunities Fund.

The Macro Opportunities Fund invests in fixed income securities and has $5 billion under management, according to the company’s website.

The firm would invest up to 10% of the Macro Opportunities Fund's net asset value in Grayscale Bitcoin Trust (Btc) GBTC. 

Grayscale Bitcoin Trust is one of the biggest crypto asset management platforms, with $9 billion assets under management.

Why It Matters: The crypto space has been attracting major Wall Street institutions lately, signaling the beginning of mainstream adoption.

In November, payment giant PayPal Holdings Inc PYPL enabled cryptocurrency services for its US users, allowing them to buy, sell and hold digital assets.

Price Action: Guggenheim Strategic Opportunities Fund shares closed 0.71% higher, at 18.50 on Friday.

Grayscale Bitcoin Trust shares closed at $18.84, down by 9.73% at Friday’s close.

Photo by Jürg Kradolfer on Unsplash