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Guggenheim is now able to invest $500M into Bitcoin

  • Guggenheim filed an ammendment with the SEC allowing them to invest up to 10% of their capital in Bitcoin
  • Bitcoin has outperformed the S&P500 by over 150% this year
  • The exposure will be gained through Grayscale's Bitcoin trust which now owns 2.5% of the entire Bitcoin supply

Guggenheim Partners LLC

Guggenheim Partners is a global investment and advisory firm which has been running since 1999. Today, their investments are overseen by the Chief Investment Officer (CIO) Scott Minerd. Since the unprecedented FED money printing and the worries about inflation, multiple investors have entered the bitcoin scene, notably Paul Tudor Jones and Stanley Druckenmiller. This has removed the career risk associated with investing in Bitcoin and seems to have turned it around into “career risk for not investing in Bitcoin”.

Since the start if this year, Bitcoin has outperformed the S&P500 by over 150%.

SEC Filing

Guggenheim Partners are the most recent arrivers to the institutional Bitcoin train. In a recent filing with the Securities and Exchanges Commission (SEC), Guggenheim Partners stated: “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”), a privately offered investment vehicle that invests in bitcoin.

Grayscale

Grayscale’s GBTC fund is one of the most popular ways used by new institutional investors to gain exposure to crypto, despite the fact that it trades at a premium (+3% at the time of writing). As of now, their Bitcoin trust has accumulated over 534,000BTC, equivalent to 2.5% of the entire Bitcoin supply of 21,000,000.

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