Tag: Guggenheim

Guggenheim Exploring Fund That Could Offer Bitcoin Exposure

by Bitcoin Magazine

Major financial institution Guggenheim Investments has filed for a fund that could offer indirect bitcoin exposure.

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), major global investment firm Guggenheim Investments is exploring a new fund that could seek exposure to bitcoin.

The filing indicates that the Guggenheim Active Allocation Fund, as the new product would be called, could seek to offer bitcoin exposure indirectly.

“The Fund may seek investment exposure to cryptocurrency (notably, Bitcoin), as often referred to as ‘virtual currency’ or ‘digital currency,’ through cash settled derivatives instruments, such as cash settled exchange traded futures, or through investment vehicles that offer exposure to Bitcoin and other cryptocurrencies through direct investments or indirect exposure such as derivatives contracts,” per the filing.

The filing also provides insight into Guggenheim’s view of cryptocurrency in general, which appears tepid at best.

“Cryptocurrency is a new technological innovation with a limited history; it is a highly speculative asset and future regulatory actions or policies may limit, to a materially adverse extent, the value of the Fund’s indirect investment in cryptocurrency and the ability to exchange a cryptocurrency or utilize it for payments,” the filing reads.

With more than $245 billion in assets under management, Guggenheim Investments is one of the largest investment firms in the world. The potential for it to offer a fund that provides bitcoin exposure, even indirectly, is another sign of growing institutional interest in BTC. Recently, major financial institutions like Goldman Sachs, Morgan Stanley and JP Morgan Chase & Co. have all been exploring similar offerings.

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Guggenheim Files New Fund, May Allocate to Bitcoin

by Cryptobriefing


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Guggenheim doubles down: the investment giant has registered a new fund that may make an allocation to Bitcoin.

Guggenheim Adds Crypto Fund 

Guggenheim Partners LLC, an investment management firm that commands $245 billion in assets, has registered a new investment fund that may allocate to cryptocurrencies.


The firm filed a registration with the Securities and Exchange Commission (SEC) for the Guggenheim Active Allocation Fund, which “may seek investment exposure to cryptocurrency (notably, Bitcoin).” The exposure would be through derivatives, such as futures or options, or other investment vehicles that invest in crypto such as Grayscale’s GBTC. 

While the firm’s top choice appears to be Bitcoin, co-founder Todd Morley recently praised Ethereum for having “higher utility” than Bitcoin, suggesting that it may look to bet on Ethereum futures or trust funds in the future.



The funds will seek a listing on the New York Stock Exchange under the ticker “GUG.” It’s the firm’s second fund with a license to add crypto allocation. In Nov. 2020, Guggenheim launched the Macro Opportunities Fund, which can have up to 10% allocation in Grayscale Bitcoin Trust (GBTC). 

The Guggenheim Active Allocation Fund will invest primarily in fixed yield instruments combined with a “diversified pool of alternative investments and equity strategies,” according to the filing. 

The fund is a “closed-end management investment company,” meaning its shares are not redeemable and can only be sold on the market. The share issue may also entail a lock-up agreement to restrict selling during that time. The lock-up strategy is similar to GBTC, which comes with a six-month restriction for issuers.

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Ethereum Has “Much Higher Utility” Than Bitcoin: Guggenheim Co-Founder

by Cryptobriefing

Key Takeaways

  • In a Bloomberg TV interview, Guggenheim co-founder Todd Morley said that Ethereum has “much higher utility” than Bitcoin.

  • He added that any business without a plan to digitize faces going out of business in the future.

  • His new venture Overline Network is building the highest skyscraper in New York and plans to host the world’s largest NFT museum.


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Todd Morley, Guggenheim co-founder and Chairman of Overline Network, stated that Ethereum has “much higher utility” than its more popular predecessor. He also explained how Overline Network plans to use the smart contract chain to create a new type of crypto exchange and NFT museum.

Guggenheim Co-Founder Backs Ethereum

Todd Morley, one of the co-founders of asset management giant Guggenheim Partners, has said that Ethereum has “much higher utility” than Bitcoin.

In a recent Bloomberg TV interview, Morley talked about his new blockchain interoperability venture Overline Network, which bills itself as a decentralized marketplace for trading across blockchains without wrapping assets or paying gas fees. When prompted on his interest in Bitcoin, Morley said that it was “a thing,” before noting that Ethereum has “much higher utility through smart contracts.”


He added that many industries would become digitized and that any firm without a technology strategy to evolve to the change would be “going out of business.”

When speaking about Ethereum, he highlighted the rapid rate of development, referencing the Moore’s law projection. He said:

“The app developers on Ethereum are growing at 20x the prior year for the sixth year straight, much much faster than Moore’s law.”

Morley also has plans to build the highest skyscraper in New York alongside real-estate development group JDS to create what’s been referred to as the “blockchain tower.” This tower will host the world’s largest NFT museum, Morley revealed.



Guggenheim Partners is well-known for its cultural pursuits. The firm famously launched New York’s Guggenheim Museum. One of its investment funds has also recently purchased more than $500 million worth of Grayscale’s Bitcoin Trust.

Disclaimer: The author held BTC, ETH, and several other cryptocurrencies at the time of writing.

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Guggenheim’s Scott Minerd Issues Bitcoin Price Warning, Predicts Top Crypto Facing Dramatic Decline

by Dailyhodl

A Wall Street veteran is sounding the alarm over Bitcoin’s rapid rise, warning that the cryptocurrency could be in for a sizable plunge in the near future.

One week after Bitcoin set an all-time high of nearly $65,000, Scott Minerd, Chief Investment Officer at Guggenheim Partners, believes Bitcoin could be on the verge of losing more than half of its value.

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“I think we could pull back to $20,000 to $30,000 on bitcoin, which would be a 50% decline, but the interesting thing about Bitcoin is we’ve seen these kinds of declines before,” Minerd says, speaking to CNBC’s Worldwide Exchange.

Since April of last year, Bitcoin has rallied over 600% from around $7,000 to its $64,804 high. Bitcoin has also had dramatic drops throughout the same year, losing almost 15% in 24 hours as recently as late March and nearly 20% within the same period this past week as it dipped from its all-time high down to $52,829.

Minerd remains bullish on BTC in the long term, suggesting that prices could eventually reach $400,000 to $600,000 per coin.

He says a correction in the near future would be part of “the normal evolution in what is a longer-term bull market.”

Recently Bitcoin bull Peter Brandt, suggested that if Bitcoin were to test its weekly moving average trend line, something the asset is want to do even in bull cycles, it may dive down to $46,615, however, Brandt thought the severe retest unlikely.

At time of writing, Bitcoin is flirting with the $50,000 level, briefly hitting a low of $49,320.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Price Could Soar Above $600,000, Says Guggenheim Partners’ Global Chief Investment Officer

by Dailyhodl

Guggenheim Partners’ global chief investment officer Scott Minerd is turning in a massive Bitcoin price prediction, estimating that the flagship cryptocurrency could appreciate by nearly 20 times its current price.

In a CNN interview, Minerd argues that the flagship crypto asset could reach up to $600,000 if Bitcoin’s market cap can match that of gold’s.

“And if you consider the supply of Bitcoin relative let’s say to the supply of gold in the world, and what the total value of gold is, if Bitcoin were to go to those kinds of numbers you would be talking about $400,000 to $600,000 per Bitcoin.”

Guggenheim’s global CIO says that figure is not a prediction, but is a possible indication of where the top crypto asset’s fair value may be. He says Bitcoin’s recent rally that took the asset above the $40,000 level is likely in part due to short-term speculation.

“But then, when you consider that within a course of a month we went from $20,000 to $40,000 on Bitcoin, that smacks of short-term speculation…

Now the air is coming out of that speculative run and so the money is migrating into other places… So you know, Bitcoin’s had a lot of times where it’s had setbacks of 50% from its highest. I wouldn’t be surprised to see that happen again.”

The Guggenheim global CIO adds that institutional investors might not be showing up enough to save the day.

“And you know, as I indicated recently, I don’t really see the institutional support today which is just coming online from the likes of people like BlackRock and Guggenheim and other large institutional investors being big enough to support the valuation at its current levels.”

Despite short-term volatile price movements, Minerd anticipates that cryptocurrencies are here to stay as they gain wide-scale adoption.

“I think that cryptocurrency has come into the realm of respectability and will continue to become more and more important in the global economy.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Guggenheim CIO Says Bitcoin Could Eventually Climb to $600,000

by Coindesk

Scott Minerd, chief investment officer of the multi-billion dollar investment firm Guggenheim Partners, has revised his previous prediction for bitcoin’s long-term price potential.

In an interview with CNN’s Julia Chatterley on Tuesday, Minerd said, based on Guggenheim’s fundamental research, he believes bitcoin could eventually climb as high as $600,000 per bitcoin.

Minerd said the firm has been looking at bitcoin for almost 10 years and previously the size of the market “just wasn’t big enough to justify institutional money.”

However, as the total market cap of bitcoin got bigger – around the time bitcoin’s price passed $10,000 – it started to look “very interesting.”

“If you consider the supply of bitcoin relative … to the supply of gold in the world, and what the total value of gold is, if bitcoin were to go to those kinds of numbers, you’d be talking about $400,000 to $600,000 per bitcoin,” he said.

However, the cryptocurrency’s rapid rise in just weeks from $20,000 to $40,000 “smacks of short-term speculation,” he said. Further, the institutional levels of market participation, while growing, aren’t yet big enough to support current price levels.

Yet, “Cryptocurrency has come into the realm of respectability and will continue to become more and more important in the global economy,” Minerd said.

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Guggenheim CIO Says Institutional Demand Not There to Sustain Bitcoin Above $30K

by Coindesk

Scott Minerd, chief investment officer of the multi-billion dollar investment firm Guggenheim Partners, believes bitcoin may struggle to stay above $30,000.

In an interview with Bloomberg Television on Wednesday, Minerd said he didn’t think bitcoin‘s institutional investor base was “big enough” or “deep enough” to justify its current valuation. The comments come weeks after he publicly declared bitcoin’s price should be in the hundreds of thousands of dollars.

“Right now, the reality of the institutional demand that would support a $35,000 price or even a $30,000 price is just not there,” he said.

Recently, a JPMorgan analyst said a bearish outlook could be triggered if bitcoin failed to claw its way back over $40,000, leading to steeper losses in the mid-term.

Starting in mid December, the price of bitcoin soared 110% from $20,000 to $42,000 over a two week period. Since Jan. 9, 2021 bitcoin’s price has fallen 25% and is changing hands for around $30,960 at press time.

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Institutional Demand “Can’t” Keep Bitcoin Above $30K Says Guggenheim’s Minerd

by Blockchain News

Institutional investment in Bitcoin is not enough on its own to justify Bitcoin’s price levels said Guggenheim CIO Scott Minerd who predicts BTC will trend down below the $30K level.

Institutional Demand “Can’t” Keep Bitcoin Above $30K Says Guggenheim’s Minerd

Despite reports of the surging institutional demand for Bitcoin, Guggenheim’s Scott Minerd says these investors are not enough to keep the BTC price firmly above the $30,000 level.

In an interview with Bloomberg on Jan. 28, Miners said:

“Right now, the reality of the institutional demand that would support a US$35,000 price or even a US$30,000 price is just not there […] I don’t think the investor base is big enough and deep enough right now to support this kind of valuation.”

Minerd who manages over $310 billion in assets confirmed that he thinks Bitcoin is still a viable asset class in the long run. After making a huge prediction that BTC be worth $400,000 per coin in Dec.2020—Minerd said a month later on Jan. 20 that he felt that Bitcoin may have temporarily peaked and could retrace to US$20,000.

Institutional adoption has been the main narrative behind Bitcoin’s incredible price rally throughout 2020, and BTC recorded and all-time high of almost US$42,000 at the start of the year before a steady fall back to near US$31,000.

Recently institutional giant Blackrock became the latest corporate behemoth to buy into the crypto and companies like MicroStategy and Square and have thrown huge amounts of cash into Bitcoin for their corporate treasuries.

Cryptocurrencies are not the only speculative area of the market that Minerd has his eye on, saying that the frothiness surrounding heavily shorted companies like GameStop Corp. will continue through the end of the first quarter.

Minerd said:

“It’s not uncommon to see squeezes like this […] “Now that we have all these small investors in the market and they see this kind of momentum trade, they see the opportunity to make money and this is exactly the sort of frothiness that you would expect as you start to approach a market pop.”

He added:

“While there’s frothiness, while valuations are getting extended, these are poor timing tools […] So, this could go on for a quite awhile.”

Despite the current consolidation in the Bitcoin market, SkyBridge Capital founder Anthony Scaramucci believes that it is the new age of micro investors. Retail traders are now increasingly shunning Wall Street and triggering bull runs in stocks like GameStop Inc., and this is positive for Bitcoin (BTC).

Furthermore, Crypto exchange Luno and brokerage OSL believes that Bitcoin is still in the right trajectory and set to hit $50,000 in the long term. As hedges against inflation continue to be sought out by investors, Bitcoin’s neck-to-neck battle with gold as the better safe-haven asset continues.

The price of Bitcoin could receive a boost as the Federal Reserve (Fed) officials voted at the Federal Open Market Committee (FOMC) meeting on Wednesday to maintain federal fund rates near 0% and continue $120 billion per month in bond purchases while the economy heals. This would allow for similar market condition that aided Bitcoin’s parabolic bull run in 2020 to continue.

A further boost to Bitcoin’s price as data reveals that 100,000 BTC options are scheduled to expire on crypto exchange Deribit today, a bullish signal according to analysts.

Bitcoin price is currently trading at around $31,333 up from an intra-day low of $29,376 according to CoinMarketCap.

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Guggenheim says institutional demand not enough to keep BTC above $30K

by Cointelegraph

Guggenheim’s Scott Minerd has come out with another gloomy price outlook for Bitcoin stating that there is not enough institutional demand to keep the asset over $30,000.

The chief investment officer of the financial services firm told Bloomberg Television the institutional investor base was not big enough to sustain the current prices.

“Right now, the reality of the institutional demand that would support a US$35,000 price or even a US$30,000 price is just not there. I don’t think the investor base is big enough and deep enough right now to support this kind of valuation.”

Minerd added that Bitcoin is still a viable asset class in the long run. Since its all-time high of $42,000 on January 8, Bitcoin has corrected 27% to current prices around $30,600. Three prominent lower highs on the chart suggest that the downtrend is strengthening.

The Guggenheim executive also thinks that this downward pressure has a lot further to go, adding that it is “not uncommon to see squeezes like this”:

“Now that we have all these small investors in the market and they see this kind of momentum trade, they see the opportunity to make money and this is exactly the sort of frothiness that you would expect as you start to approach a market pop.”

On January 20, Minerd told CNBC that he expects prices to fully retrace back to $20,000. If this scenario plays out, it would entail a correction of more than 50%, and that has happened several times during previous market cycles. The last time BTC fell by over half was in March 2020 when it dropped from just over $10,000 to below $5,000 in just three weeks.

Guggenheim has not changed its stance on the long term outlook for Bitcoin, however, with Minerd stating in December that the firm’s fundamental work has shown that Bitcoin could be worth about $400,000.

As Bitcoin approaches this psychological support level at $30,000, the imminent expiry of $4 billion in BTC options could favor the bulls according to analysts.

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Guggenheim CIO Says Bitcoin May Have Topped Out for Now

by Coindesk

Bitcoin’s bull run may have peaked and the cryptocurrency could suffer a significant price pullback, according to Guggenheim Partners Chief Investment Officer Scott Minerd.

“For the time being, we have probably put in a top for bitcoin for the next year or so,” Minerd told CNBC on Tuesday, adding that the cryptocurrency could retrace to $20,000.

Bitcoin reached a record high of $41,962 on Jan. 8 and has been mainly restricted to a range of $30,000 to $40,000 ever since. The uptrend began in early October, when the cryptocurrency was trading near $11,000 and went ballistic in the second half of December, with prices rising from $19,000 to $38,000, according to CoinDesk 20 data.

Price pullbacks often follow such stellar rallies. “When we have a doubling of a price of an asset in the course of a month, we are prone to having a setback,” Minerd said while explaining the rationale behind his forecast for a decline to $20,000.

Minerd told Bloomberg a month ago that bitcoin’s fair value was $400,000 and recently warned of speculative frenzy gripping the market. Guggenheim Partners, which manages more than $230 billion worth of assets, started investing in bitcoin when the cryptocurrency was trading around $10,000.

Minerd also shared his view on traditional markets, pointing to Federal Reserve’s open-ended liquidity boosting bond purchase program as the main reason for the slump in the U.S dollar.

The dollar index (DXY), which tracks the greenback’s value against major currencies, fell by 6.83% in 2020 and recently reached a 34-month low of 89.21. “Trend in the dollar is for more weakness,” Minerd said.

Bitcoin and the Dollar Index have moved in opposite directions since the March crash, and the inverse correlation between the two is strengthening.

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Bitcoin (BTC) $ 25,731.89 5.79%
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