Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
According to the document, the so-called Guggenheim Active Allocation Fund plans to maximize total return through a combination of current income and capital appreciation. The fund may seek investment exposure to cryptocurrencies through cash settled derivatives instruments, such as cash settled exchange traded futures, or through investment vehicles that offer exposure to BTC.
The firm admits that the fund's exposure to cryptocurrency "can result in substantial losses" due to the market volatility. The fund's common shares are expected to be listed on the New York Stock Exchange under the symbol (GUG). In December last year, Scott Minerd, Chief Investment Officer of Guggenheim Investments, expressed an opinion that bitcoin was a severely undervalued. Minerd also said that his company started to invest in bitcoin when it was priced at $10,000.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.