THELOGICALINDIAN - Guggenheim has registered a new armamentarium with the US Securities and Exchange Commission SEC that could accept acknowledgment to cryptocurrencies decidedly bitcoin The filing came as the asset administration firms arch advance administrator again fabricated bearish bitcoin predictions calling cryptocurrency Tulipmania
Guggenheim Launching Fund Which Could Have Exposure to Bitcoin
Guggenheim Funds Investment Advisors LLC filed a allotment account with the U.S. Securities and Exchange Commission (SEC) Tuesday for the Guggenheim Active Allocation Fund. Guggenheim Investments has about $270 billion in absolute assets beneath administration beyond anchored income, equity, and another strategies.
The filing describes the armamentarium as “a newly-organized, diversified, closed-end administration advance company.” Among the investments that the new armamentarium can advance in are “Cryptocurrency, Digital Assets, or Virtual Currency Investments.” The filing states:
After analogue the risks associated with advance in bitcoin, the aggregation acclaimed that the fund’s “exposure to cryptocurrency may change over time and, accordingly, such acknowledgment may not consistently be represented in the fund’s portfolio.”
The Guggenheim filing followed several bearish predictions by the arch advance administrator (CIO) of Guggenheim Partners, Scott Minerd, who is additionally the administrator of Guggenheim Investments, the all-around asset administration and advance advising analysis of Guggenheim Partners.
While Minerd has a abiding anticipation of $600K for BTC, he has been adage that the amount of bitcoin will blast in the abbreviate appellation and could abatement 50% to the $20K – $30K level. Last week, he predicted added heavy sell-off for bitcoin afterwards admonishing of a major correction in April, advertence that the cryptocurrency looked “very frothy.”
According to the SEC filing, Minerd will be amenable for the circadian administration of the Guggenheim Active Allocation Fund’s portfolio.
Minerd tweeted on May 28, “Crypto investors be warned: be able for a airy anniversary weekend.” On May 19, he wrote, “Crypto has accurate to be Tulipmania. As prices rise, tulip bulbs and cryptocurrencies accumulate until accumulation swamps appeal at antecedent bazaar allowance prices,” elaborating:
Some bodies in the crypto association brainstorm that Minerd fabricated bearish predictions to acquiesce Guggenheim to buy the dip.
Guggenheim has addition armamentarium that may accept acknowledgment to bitcoin. The Guggenheim Macro Opportunities Armamentarium may seek advance acknowledgment to bitcoin alongside through advance up to 10% of its net asset amount in Grayscale Bitcoin Trust (GBTC), its SEC filing describes.
What do you anticipate about Guggenheim ablution a armamentarium that could accept bitcoin acknowledgment afterwards its CIO alleged crypto Tulipmania and predicted the amount of bitcoin would crash? Let us apperceive in the comments area below.
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