Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC

Guggenheim Funds Trust filed an amendment with the U.S. Securities and Exchange Commission to allow its $5 billion Macro Opportunities Fund gain exposure to bitcoin by investing up to 10% of the fund’s net asset value in the Grayscale Bitcoin Trust (GBTC).

• According to the amendment: "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. To the extent the Fund invests in GBTC, it will do so through the Subsidiary."
• Given the fund has net assets of $4.97 billion, according to Fidelity, it means mean the fund can invest up to $497 million in GBTC.
• The Macro Opportunities Fund is part of Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners, and has more than $233 billion in total assets across fixed income, equity and alternative strategies.
• Grayscale is a sister company to CoinDesk.