Guggenheim is requesting a new fixed capital fund that seeks to invest in Bitcoin and other digital currency
Prior to filing with the SEC, Guggenheim Active Allocation Fund sub-advisor Scott Minerd warned cryptoinvestors about a volatile weekend. It made a similar move in January before the company became effective in buying shares of GBTC.
Guggenheim Partners has applied for a new fund called the Guggenheim Active Allocation Fund which aims to invest in digital currency, including Bitcoin.
The closed-end fund is a diversified vehicle recently organized with the goal of maximizing total return through a combination of current income and capital revaluation. Its common shares are expected to be listed on the New York Stock Exchange under the symbol “GUG”.
The Fund sub-advisor seeks to combine a credit-managed fixed income portfolio with a diversified group of alternative investments and equity strategies.
In addition to other investment exposures, the Fund may also invest in digital currency, especially Bitcoin, the document reads.
This investment in digital currency will be made through derivative instruments settled in cash or through investment vehicles that offer exposure to Bitcoin or other digital currency through direct investments or indirect exposure.
In addition to the usual risks, the Fund also mentions ESGs as a potential; however, the presence of an ASG risk is not necessarily a reason to exclude a specific position from the investment universe, but is treated like other risks.
Interestingly, the new fund has company CIO Scott Minerd on the list as one of the sub-advisors. Before appearing before the Securities and Exchange Commission (SEC) on Monday, June 1, over the weekend, Minerd warned the crypto community to prepare for a volatile holiday weekend.
However, this is not the first time Minerd has made such a move. In early January, before the company’s filing with the SEC for the purchase of Grayscale Bitcoin Trust (GBTC) shares was activated, the president asked the cryptocurrencies to withdraw some profits from the table.
However, the price of BTC did not experience its 50% reduction until May after reaching a new ATH at almost $ 65k in April.
Bitcoin / USD BTCUSD
$ 38,885,0200 $ 1,831,484.71%
Volume 35.7 b Change $ 1,831.48 Open $ 38,885,0200 Current 18.73 m Market Capitalization 728.14 b
Anty has been involved in the cryptographic space full time for over two years. Prior to her blockchain beginnings, she worked with the NGO Doctor Without Borders as a fundraiser and has since explored, read and created for different segments of the industry.