With the crypto giant Bitcoin(BTC) having a mixed week, which has seen its prices fluctuate from an all-time high to a drop of about 20%, investment opportunities s continue to pour in for the Blockchain giant. This is not a surprise as most analysts have predicted that the cryptocurrency was pointing towards the buy signal.
The recent being that Guggenheim, In a report according to the US Securities and Exchange Commission (SEC), Wall street leading investment firm has invested 10% of its fund in a Bitcoin Trust.
The Leading Investment Firm, Guggenheim Partners, has filed an amendment with the exchange commission in a bid to seek 10% investment exposure in Grayscale Bitcoin Trust. Guggenheim has become the latest firm to pledge investment in Grayscale Trust.
In a report on Friday, the SEC confirmed that Guggenheim had asked for an opportunity to invest indirectly in Grayscale Bitcoin Trust through a 10% exposure of the firm’s Macro Opportunities Fund. The gross investment totals to about $500million in value, which signifies an excellent win for the crypto giant Bitcoin(BTC).
Guggenheim Macro Opportunities Fund made the investment
The New York company Guggenheim was founded in 1999 and currently boasts of more than $295 billion in assets. It is a global investment and advisory firm dedicated to delivering results through its innovative ideas and solutions. The firm currently offers services in asset management, investment banking, capital markets, and insurance services.
The firm’s division, known as the “Guggenheim Macro Opportunities Fund,” is also known as the GIOAX, an investment that provides total return and capital appreciation. With over $5.2 billion in assets management, the fund invests in a wide range of fixed-income, debt, equity securities selected from various sectors, credit qualities, principally corporate bonds, syndicated bank loans, and other direct lending opportunities. The new investment by the GIOAX in Grayscale Bitcoin Trust aims to improve the fund’s overall capital base.
Cryptocurrencies continue to gain attention
Many institutions across the world showed interest in BTC and other cryptocurrencies this year, with many investments coming in from firms worldwide. The CEO of Microstrategy, Micheal Saylor, whose investment in BTC is worth over $250 million, announced that his firm had purchased about $400 million worth of BTC in August. Many companies worldwide also continue to adopt cryptocurrencies, with Paypal recently announcing that it is ready to allow crypto trading services on its platform.
Grayscale Bitcoin Trust is the first public investment and digital currency investment company to attain a SEC reporting status. With over $10 billion in digital assets, it poises itself as one of the world’s largest cryptocurrency investment firms. It is solely invested in BTC and aims to enable investors to earn in the coin and gain exposure directly.