What Is Guggenheim Partners?
Guggenheim Partners is part of the next wave of institutional investment firms looking to step into bitcoin.
Even with the increase in AUM, average ETP volumes in February dropped 37.8% to $936 million.
Cathie Wood's asset manager significantly boosted its stake in the Grayscale Bitcoin Investment Trust.
The gap between the GBTC share price and the implied price of the underlying bitcoin has collapsed to a 4% discount from a 35% premium late last year.
The disclosure comes as BlockFi prepares to launch a competitor bitcoin trust product.
The Grayscale Bitcoin Trust is a traditional financial product that allows institutional investors to gain exposure to bitcoin.