Guggenheim Registers Fund That May Seek Exposure to Crypto
The Guggenheim Active Allocation Fund could invest in bitcoin derivatives among other assets.
Jun 2, 2021 at 9:05 a.m. UTCUpdated May 9, 2023 at 3:20 a.m. UTC
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- The fund, expected to be listed on the New York Stock Exchange under the ticker "GUG," will follow an asset-allocation strategy and a relative value-based investment strategy, and may seek exposure to cryptocurrencies, especially bitcoin.
- Exposure would likely be through derivatives, such as futures, or through other vehicles that invest in crypto.
- Guggenheim noted the volatile nature of cryptocurrencies, saying that "it is a highly speculative asset."
- The fund will hold a varying proportion of cryptocurrency, and may hold none at all, the filing said.
- In November, Guggenheim filed to allow its Macro Opportunities Fund to gain exposure to bitcoin.
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