Guggenheim Partners has filed an application with the U.S. Securities and Exchange Commission (SEC) to allocate more than $500 million from the Macro Opportunities fund to invest in the Grayscale Bitcoin Trust.
According to a filing with the SEC, Guggenheim Partners worth $275 billion may start investing in the Grayscale Bitcoin Trust (GBTC), which will open the company access to the cryptocurrency market.
“The Guggenheim Macro Opportunities Fund may initiate indirect investments in bitcoin and invest up to 10% of its net asset value in GBTC,” the filing says.
According to independent rating firm Morningstar, Macro Opportunities currently manages $5.3 billion in assets and has a four-star rating “based on the returns of 270 risk-adjusted unconventional bond funds.”
If the fund invested 10% of its assets in GBTC, the investment in the trust would exceed $500 million. The application also points out a long list of potential risks for investors, including the lack of regulation of cryptocurrency exchanges and uncertainty in the field of taxation.
Recall that recently the value of crypto assets managed by Grayscale Investments exceeded $10 billion. In addition, earlier, Fidelity Digital Assets reported on the increased interest of institutional investors in cryptocurrencies.