$270 billion valued fund management Guggenheim Partners seeks to invest in bitcoin, according to a SEC filing. The investment will be under a new fund, “Guggenheim Active Allocation Fund.”
The new Guggenheim fund will use qualitative and quantitative analysis to spot attractive securities with favorable risk-reward ratios.
The exposure to digital currencies, mostly bitcoin will occur via cash-settled derivatives.
Guggenheim recognizes high volatilities, exchange blackouts, cyber attracts, negative public image, and risks associated with technological endeavors as its top concerns.
The fund management company cites greater acceptance of cryptocurrencies, changing demographics, and network innovation as key to digital asset expansion.
Guggenheim crypto inroads happens even as its CIO Scott Minerd said last year that bitcoin could hit a price of $400,000 in future.
Bitcoin is currently gaining. BTCUSD is up 3.40%
