Guggenheim Partners Registers New Fund with Exposure to Bitcoin
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Guggenheim Partners, a global investment and advisory firm, has filed for a new allocation fund with exposure to bitcoin (EXANTE: Bitcoin) with the US Securities and Exchange Commission (SEC).

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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.

Guggenheim Partners: Ether is More Useful Than Bitcoin

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.

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