In a November 27 amended prospectus filing with the U.S. SEC, Guggenheim explains the rationale for seeking indirect exposure to BTC. According to the explanation, Guggenheim's MOF wants to achieve its investment objective by œinvesting in a wide range of fixed-income and other debt and equity securities. This includes exposure to cryptocurrencies which the fund's management believes will œoffer (an) attractive yield and/or capital appreciation potential. Still, in the same filing, the investment company acknowledges the risks associated with investing in cryptocurrencies in general. Consequently, management says the œFund's exposure to cryptocurrency may change over time. Also, as regulators zero in on cryptocurrencies and in particular crypto exchanges, Guggenheim hints this will have a bearing on the fund's decision-making process. The document explains the fund's understanding as follows: Cryptocurrency is a new technological innovation with a limited history; it is a highly speculative asset and future regulatory actions or policies may limit, perhaps to a materially adverse extent, the value of the fund's indirect investment in cryptocurrency and the ability to exchange a cryptocurrency or utilize it for payments. Better Understanding of the Risks Meanwhile, the filing also details the tax implications that may arise as a consequence of being exposed to the highly volatile BTC. Although Guggenheim MOF is not directly buying BTC, still the commitment by a large institutional investor to put 10% of the fund's net worth indirectly into BTC is another milestone for the top crypto. The approximately half a billion-dollar commitment suggests that many larger investors now understand not only the advantages but also the risks associated with the inclusion of cryptocurrencies in their portfolios. Source: https://news.bitcoin.com/guggenheim-investment-fund-to-invest-497-million-in-grayscales-gbtc-seeking-bitcoin-exposure/
| Company Name | Contact Person | Contact Number | Email Id | Website | Address |
|---|---|---|---|---|---|
| Guggenheim |
[Australia] Cryptocurrency & Blockchain YouTube influencer popularly known as “Crypto Granny” within the community...Read More
crypto service comparison site, Cryptowisser has now released its revolutionary Comparision tool which helps you compare cryptocurrency exchanges...Read More
Bitcoin.com Announces Partnership With Luxury Watchmaker Franck MullerBitcoin, announced the launch of a new Franck Muller luxury watch called “Free...Read More
On November 25, the asset manager Vaneck announced the launch of an exchange-traded product (ETP) called the “Vaneck Vector Bitcoin ETN.” The exch...Read More
SEC Chairman Jay Clayton Explains US Crypto Regulation, Calls Bitcoin a Store of ValueThe chairman of the U.S. Securities and Exchange Commission ( SE...Read More
