Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Bitcoin (BTC)
  • News

Wall Street giant Fund Seeks SEC Approval to Purchase $500 Million Worth of Bitcoin (BTC)

Tobi Loba November 29, 2020 2 min read
Here’s Why Stock-to-Flow Creator Is Confident $288,000 Is Still In Play for Bitcoin (BTC)

The Wall Street giant Guggenheim Fund, one of the largest investment and advisory financial services companies in the United States, has filed a document with the United States Securities and Exchange Commission (SEC) in relation to its interest in purchasing hundreds of millions of dollars in Bitcoin (BTC).


trade now

According to the filing, the macro investment fund is seeking to use 10% of its net assets to buy Bitcoin (BTC) via the leading crypto investment firm, Grayscale.

The filing reads in part as follows:

“The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly investing up to 10% of its net asset value in Grayscale Bitcoin Trust (GBTC).”

Read Also: Bitcoin (BTC) Will Be Bigger Than Apple, Amazon, and Facebook –MicroStrategy CEO Michael Saylor

Guggenheim Fund Has $5 Billion in Assets under Management

As revealed by Fidelity and Morningstar, Guggenheim Fund has relatively $5 billion in assets under management. If the Fund receives approval to its filing and allocates 10% of the aforementioned amount into Bitcoin (BTC), it would imply a buy worth $500 million.

So, with the price of Bitcoin hovering around $18,000 as of the time of publishing, this huge proposed purchase would amount to relatively 27,650 BTC.

The SEC filing describes cryptocurrencies as “digital assets designated to act as a medium of exchange.” The document also listed several risks associated with cryptocurrency investments.

Those include lack of digital asset exchange regulation, GBTC’s historical “significant premium,” and uncertainty around taxation, regulations, among others.

Read Also: Could Bitcoin (BTC) Be Banned in the US? Crypto Big Guns Discuss

2020 has turned out to be the year with the most substantial institutional BTC purchases. If Guggenheim succeeds in its ambition to buy Bitcoin (BTC), the Wall Street giant will join the likes of MicroStrategy and Jack Dorsey’s Square.

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: IOTA Moves Closer to the Launch of Chrysalis Phase 2
Next: XRP Investors Holding about 3 Billion XRP on Coinbase Won’t Receive Flare’s Airdrop. This Is Why

Related Stories

LYOTRADE Launches Crypto Loans – Get USDT and Win Against Volatility
3 min read
  • News
  • Press Release

LYOTRADE Launches Crypto Loans – Get USDT and Win Against Volatility

July 2, 2022
21Shares And Ark Investment Have Refiled For Spot BTC ETF
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • ETF (Exchange Traded Fund)
  • News

21Shares And Ark Investment Have Refiled For Spot BTC ETF

June 30, 2022
Pharma Bro Martin Shkreli Is Optimistic About Decentralized Finance
3 min read
  • Cryptocurrency
  • DeFi (Decentralized Finance)
  • News

Pharma Bro Martin Shkreli Is Optimistic About Decentralized Finance

June 29, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$19,312.85
-0.69%
ethereum
Ethereum (ETH)
$1,069.24
-0.33%
tether
Tether (USDT)
$1.00
-0.09%
usd-coin
USD Coin (USDC)
$1.00
-0.35%
binancecoin
BNB (BNB)
$218.70
-0.12%
Binance USD
Binance USD (BUSD)
$1.00
-0.30%
cardano
Cardano (ADA)
$0.456366
0.69%
ripple
XRP (XRP)
$0.317078
0.18%
dogecoin
Dogecoin (DOGE)
$0.066875
0.33%
polkadot
Polkadot (DOT)
$6.84
0.17%

Recent Posts

  • LYOTRADE Launches Crypto Loans – Get USDT and Win Against Volatility
  • A Complete Guide To Cryptocurrency Security
  • 21Shares And Ark Investment Have Refiled For Spot BTC ETF
  • Discussing the Danger And Value Of Following Other Crypto Traders
  • Best Ways to Generate Crypto Passive Income
  • A Beginner’s Guide To Web3 Gaming
  • What Risk Management Rules Should Crypto Traders Follow?
  • Pharma Bro Martin Shkreli Is Optimistic About Decentralized Finance
  • Central African Republic Intends To Set Up A Hub To Attract Crypto Enthusiasts
  • BTC Fear & Greed Index Suggests Return to Sub-$20K
  • Public Vs Private Blockchains: How Do They Differ?
  • Stacks (STX): Reversal Inside Wedge Setup Targets $0.3 Support
  • Top Blockchain and Bitcoin Books to Read in 2022
  • What Investors Should Know about TRX as Tron Marks 4th Anniversary
  • Here’s Why Whales Are Scooping AAVE

Categories

You may have missed

LYOTRADE Launches Crypto Loans – Get USDT and Win Against Volatility
3 min read
  • News
  • Press Release

LYOTRADE Launches Crypto Loans – Get USDT and Win Against Volatility

July 2, 2022
A Complete Guide To Cryptocurrency Security
11 min read
  • Cryptocurrency
  • Guide

A Complete Guide To Cryptocurrency Security

July 1, 2022
21Shares And Ark Investment Have Refiled For Spot BTC ETF
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • ETF (Exchange Traded Fund)
  • News

21Shares And Ark Investment Have Refiled For Spot BTC ETF

June 30, 2022
Discussing the Danger And Value Of Following Other Crypto Traders
11 min read
  • Cryptocurrency
  • Guide

Discussing the Danger And Value Of Following Other Crypto Traders

June 30, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%