Ivy League School Brown Acquires Bitcoin ETF Worth $4,915,000, Mirroring UATX and Emory's Actions
Brown University dives into the crypto world by investing in Bitcoin through BlackRock's iShares Bitcoin exchange-traded fund (IBIT). With an approximate initial investment of $4.9 million and ownership of 105,000 shares, they join the ranks of universities like Emory and the University of Austin (UATX), who have also invested in IBIT.
The University of Austin's SVP of advancement, Chad Thevenot, expressed the institution's view on the investment, stating, "We think there is long-term value there, just the same way that we might think there is long-term value in stocks or real estate."
Emory University's investment in IBIT is not detailed in the latest reports. However, it was one of the early universities that gained Bitcoin exposure through this trust. Likewise, the University of Austin also invested in this ETF, although the value of their investment remains unknown.
These investments mark an important step for the acceptance of cryptocurrencies in higher-education endowments. This trend highlights increasing institutional confidence in Bitcoin as a long-term investment option beyond traditional asset classes like stocks and real estate.
Bitcoin's price has been booming as well, trading at around $96,723 and up more than 2% over the past week. Will these university investments value increase over time too? Only time will tell.
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Disclaimer: The views expressed in this article are not financial advice. Investors should do their own research before making any investment decision in Bitcoin, cryptocurrency, or digital assets. Please note that The Daily Hodl participates in affiliate marketing.
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- Brown University 2021 Form 990-PF
- Emory University Filings - Form 990
- UATX Introduces Massive Endowment Fund to Legalize Bitcoin as University's Primary Endowment
- Ivy League Brown University Invests in Bitcoin Through BlackRock ETF
- In light of the increasing interest in cryptocurrency, Brown University's move to invest in Bitcoin through BlackRock's iShares Bitcoin exchange-traded fund (IBIT) sets a notable precedent for other institutions, particularly in higher education.
- With a growing number of universities, such as Emory and the University of Austin, investing in IBIT, the acceptance of cryptocurrencies within endowments seems to be a significant trend, indicating increased institutional confidence in Bitcoin as a viable long-term investment option beyond traditional asset classes like stocks and real estate.
- Despite the University of Austin's SVP of advancement, Chad Thevenot, expressing a positive outlook on their Bitcoin investment, the value of their investment in IBIT remains unknown, similar to the specifics of Emory University's investment in the ETF.
- As the price of Bitcoin continues to boom, trading at around $96,723 with a 2% increase over the past week, it remains to be seen whether the university investments will follow suit and yield similar growth over time.
- Given the volatility of the cryptocurrency market, investors, including universities, should do their own research before making any investment decisions in Bitcoin, altcoins, or digital assets, as the views expressed in this article are not financial advice.
