Global monetary administration big Guggenheim Investments is contemplating whether or not to provide publicity to Bitcoin and cryptocurrency via a brand new fund registered with the U.S. Securities and Exchange Commission (SEC).
This week Guggenheim Investments registered The Guggenheim Active Allocation Fund with the SEC, which will likely be listed on the New York Stock Exchange beneath the ticker “GUG.”
Within the submitting, Guggenheim reveals that the fund might search publicity to crypto and digital property.
The SEC submitting states,
“Cryptocurrency, Digital Assets, or Virtual Currency Investments. The Fund might search funding publicity to cryptocurrency (notably, Bitcoin), usually referred to as ‘digital forex’ or ‘digital forex,’ via money settled derivatives devices, reminiscent of money settled alternate traded futures, or via funding automobiles that supply publicity to Bitcoin or different cryptocurrencies via direct investments or oblique publicity reminiscent of derivatives contracts.”
One of the Guggenheim’s fund managers is Guggenheim’s Global Chief Investment Officer Scott Minerd, who has notably flip-flopped on his Bitcoin outlook.
“The Sub-Adviser’s personnel with the duty for the day-to-day administration of the Fund’s portfolio are B. Scott Minerd, Chief Investment Officer and Chief Executive Officer, Anne Bookwalter Walsh, Assistant Chief Investment Officer and Senior Managing Director, Steve Brown, Managing Director, and Adam Bloch, Director.”
In late April, Minerd predicted a large worth drop for BTC, earlier than the coin misplaced nearly half its worth in May. However, Minerd additionally mentioned a correction within the close to future could be a part of “the conventional evolution in what’s a longer-term bull market” for the digital asset.
Disclaimer: Opinions expressed at The Daily Hodl are usually not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses chances are you’ll incur are your duty. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please notice that The Daily Hodl participates in internet affiliate marketing.
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