Wall Street giant bets $500m on Grayscale Bitcoin Trust

Guggenheim Partners plans to allocate about 10% of the Macro Opportunities Fund's assets to the Grayscale Bitcoin Trust.

Guggenheim Partners, the investment firm managing more than $200 billion in assets, said it intends to allocate part of its portfolio to the Grayscale Bitcoin Trust.

According to the document on the U.S. Securities and Exchange Commission’s website, the Wall Street firm is considering investing 10% of the assets of its Macro Opportunities Fund unit in the Grayscale Bitcoin Trust (GBTC).

Assets of the Macro Opportunities Fund are estimated at around $5 billion. Investments in GBTC in this way would amount to about $500 million.

The company is not considering other cryptocurrency investments, direct or indirect.

Grayscale: investors view bitcoin as a store of value and an inflation hedge

Guggenheim Partners invests across asset classes on behalf of private companies, pension funds and sovereign wealth funds. Investments in GBTC are viewed as portfolio diversification.

Earlier in November, the total value of crypto assets under Grayscale Investments’ management exceeded $10 billion, with more than 80% in GBTC.

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