Guggenheim opens door to bitcoin exposure for $5 billion macro fund!

[Em00n01]

Guggenheim opens door to bitcoin exposure for $5 billion macro fund via Grayscale GBTC product

Guggenheim Partners, the $200 billion-plus asset-manager, could be the latest Wall Street firm to allocate capital to the cryptocurrency market, as per a filing.

https://www.theblockcrypto.com/post/85924/guggenheim-opens-door-to-bitcoin-exposure-for-5-billion-macro-fund-via-grayscale-gbtc-product

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[1714676615]

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[acquafredda]

Guggenheim opens door to bitcoin exposure for $5 billion macro fund via Grayscale GBTC product

Guggenheim Partners, the $200 billion-plus asset-manager, could be the latest Wall Street firm to allocate capital to the cryptocurrency market, as per a filing.

https://www.theblockcrypto.com/post/85924/guggenheim-opens-door-to-bitcoin-exposure-for-5-billion-macro-fund-via-grayscale-gbtc-product

That is another big leap for bitcoin. They will go for indirect exposure via grayscale gbtc but it is a big thing anyway. The way I see it is our bitcoin are becoming priceless: hold them strong because wall street maniacs want to put their hands on your coins. Watch out

[ChrisPop]

We shall expect smaller investment funds to follow the footsteps of Guggenheim soon. The sheep mentality applies to professionals as well and in all industries.

I have a good feeling about this intensified activity from pro investors. $100,000 might not be so far away as I thought, after all...

[ChiBitCTy]

More good news coming out of big finance.  The more and more we see big financial firms like this adopt bitcoin and cryptocurrency, the more we know this is all here to stay.  Fun fact, I used to live down the street from the owner/founder of Guggenheim..his house ( or his Chicago house ) is enormous and absolutely beautiful.  Him and his wife are actually really good people who are heavily involved in charity.

[ChrisPop]

More good news coming out of big finance.  The more and more we see big financial firms like this adopt bitcoin and cryptocurrency, the more we know this is all here to stay.  Fun fact, I used to live down the street from the owner/founder of Guggenheim..his house ( or his Chicago house ) is enormous and absolutely beautiful.  Him and his wife are actually really good people who are heavily involved in charity.

Have you had the chance to meet them or they were walking around higher social circles? Just curious. It is not hard to make a donation when you have so much money. Yeah, it is a good deed and I appreciate them for the action, but I don't think we should say that they're good people just because of that.

You should be in a pretty good financial status yourself if you lived down the street from them. Keep stackin' them!

[Yaunfitda]

Just to be clear, according to the article,

"The 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," the filing with the U.S. Securities and Exchange Commission read.

Not really sure what indirectly means, though, leastwise, if you look at the companies today, there are a lot of them directly wanted to have bitcoin in their portfolio, so this could be where the money could come if the price will push to 6 digits in the future.

[acquafredda]

That is pretty clear to me: they are not going to hold coins directly but they prefer to invest via gbtc. Whatever the amount they would consider, Grayscale will need to buy and hold that amount for the Guggenheim fund. This would probably be the next-gen approach and you will see an increasing number of grayscales popping up. And then ETFs, ETNs etc.....

[Em00n01]

That is another big leap for bitcoin. They will go for indirect exposure via grayscale gbtc but it is a big thing anyway. The way I see it is our bitcoin are becoming priceless: hold them strong because wall street maniacs want to put their hands on your coins. Watch out

Yes these are going to be huge! Also, A lot of good news are coming for BTC. We should hold tight what we have   .

[24Kt]

Just to be clear, according to the article,

"The 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," the filing with the U.S. Securities and Exchange Commission read.

Not really sure what indirectly means, though, leastwise, if you look at the companies today, there are a lot of them directly wanted to have bitcoin in their portfolio, so this could be where the money could come if the price will push to 6 digits in the future.

These institutions have huge money and can really make an impact in the crypto community. If this move will continue, we will really see the price of bitcoin to continuously rise. Even if there is no clear legislations from the government towards crypto, we are now seeing big companies doing their move towards crypto. This will push thru the government to seriously consider the cryptocurrency market.