Coindesk just reported that Guggenheim Investments registered a new fund, the Guggenheim Active Allocation Fund, that could be seeking investment exposure to crypto especially Bitcoin according to a filing with the U.S. Securities and Exchange Commission.
“The fund, expected to be listed on the New York Stock Exchange under the ticker “GUG,” will follow an asset-allocation strategy and a relative value-based investment strategy, and may seek exposure to cryptocurrencies, especially bitcoin.
Exposure would likely be through derivatives, such as futures, or through other vehicles that invest in crypto,” according to the online publication.
It’s been also revealed that Guggenheim noted the volatile nature of cryptocurrencies, saying that “it is a highly speculative asset.”
The fund will hold a varying proportion of crypto and may hold none at all, the filing said.
We suggest that you check out the complete article in order to learn all the available details.
Crypto latest news
There are all kinds of juicy reports in the crypto space, regardless of the crypto prices that have been extremely volatile lately.
It’s been revealed that there are some pretty impressive moves going on in the crypto space these days regardless of the fact that the prices of digital assets went downhill for a while.
Check out what the European Union plans to do in the near future according to the latest reports.
JUST IN – European Union to unveil plans for a bloc-wide “digital wallet” for citizens to access a range of “private and public services” with a single online ID on Wednesday (FT) pic.twitter.com/6e7NevxnxX
— Disclose.tv 🚨 (@disclosetv) June 1, 2021
The same notes continue and reveal that “The new digital ID will give all Europeans the keys to their digital twin,” says Thierry Breton, EU commissioner. How long until you can’t log in to social networks without your EU digital ID? Smells like a backdoor approach to end anonymity on the Internet.”