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Seeking Alpha 2020-11-29 18:02:21

Guggenheim's Scott Minerd wants in on crypto - new rule allows macro fund to invest in Bitcoin

"The Guggenheim Macro Opportunities Fund ([[GIOIX]], [[GIOAX]]) may seek investment exposure to Bitcoin (BTC-USD) indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (GBTC)," says the company in an SEC filing.The Macro Opportunities Fund - whose chief investment officer is Scott Minerd - has $5.3B in assets under management.For now, any crypto investments will be limited to purchase of the Grayscale Bitcoin Trust. The fund will make no direct buys of Bitcoin, or any other cryptocurrencies.Checking prices, Bitcoin continues its wild ride of the past few days. It crossed over $19K last Tuesday, plunged to as low as $16.2K on Turkey Day, and at current pixel time has bounced back to $18.2K.

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