An SEC filing on Fri indicates that the next Wall Street establishment to have a public position in Bitcoin may also be amongst the largest however: the $275 billion financial services house Guggenheim Partners.

The Guggenheim filing allows the Macro Opportunities fund to purchase GBTC, a publicly-traded Bitcoin investment vehicle from Grayscale, at an indeterminate point in the future.

"The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing upward to ten% of its net asset value in Grayscale Bitcoin Trust ("GBTC")," the filing reads.

According to independent ratings firm Morningstar, the Guggenheim Macro Opportunities fund currently has $5.3 billion in assets under direction and sports a four-star rating "based on risk-adapted returns out of 270 Nontraditional Bail funds."

Guggenheim describes the overall fund strategy for the institutional-grade shares (ticker: GIOIX) every bit a product of the investment team'due south "highest-confidence ideas." If the fund were to take the full 10% stake in GBTC, it would exist worth north of $500 million.

The filing also notes a long list of potential investor risks associated with cryptocurrencies, which it refers to as "digital assets designed to act as a medium of exchange." Risks include lack of cryptocurrency exchange regulation, GBTC's historical "significant premium" to cyberspace asset value, and uncertainty regarding tax laws and regulations, amongst others.

This preparatory movement by Guggenheim appears to be office of a cascading series of investments indicating increased acceptance of Bitcoin among major fiscal institutions. In August, business concern intelligence firm Microstrategy purchased nearly 40,000 Bitcoin, leading to a parabolic move in share price. Likewise, financial services house Foursquare, Inc bought $50 million in Bitcoin in October.

This rolling snowball of institution involvement may quickly become an avalanche, every bit noted by one prominent voice in crypto journalism: