Brown University Invests Millions in Bitcoin through BlackRock ETF Shares
Revised Article:
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Brown University's investment portfolio just got a boost of Bitcoin worth nearly $5 million! The nostalgic Ivy League institution has hopped on the Bitcoin bandwagon via BlackRock's iShares Bitcoin Trust ETF (IBIT), as revealed in a recent SEC filing.
The university owns a whopping 105,000 shares of IBIT, valuing approximately $4.9 million as of March 31 this year. Interestingly, these shares weren't part of the previous quarter's filing. As of today, these shares are worth around $5.8 million.
Though a considerable investment, it's but a speck in the ocean for an endowment that surged to an astounding $7.2 billion during its 2024 fiscal year.
Spill the Beans"Over the past few decades, the financial markets have gotten real complex, ya know," Brown's 2024 endowment report reads. "As our endowment's grown, we've had to adapt." Now, a team of investment pros pursues a variety of strategies, some requiring serious expertise and a sharp mind."
The university's investment portfolio is a mixed bag, including stock, bonds, private companies, real estate, and commodities.
Brown ain't the only one looking to score some Bitcoin. Back in May 2024, the University of Austin (UATX) struck a deal with Bitcoin services company Unchained to create a $5 million Bitcoin endowment. Then in October, Emory University revealed a hefty $16 million in Bitcoin exposure via the Grayscale Bitcoin Mini Trust, with a recent reduction in shares but around $22 million in Bitcoin exposure thanks to a price surge. They've also got more than $1 million worth of shares in popular crypto exchange, Coinbase.
These universities join a growing list of institutions eyeing crypto's largest asset by market cap. From publicly traded companies to world governments, the crypto race is heating up!
Bitcoin's price hit a high of nearly $98,000 on Friday since February, rebounding from a low of around $75,000 in early April. As of now, it's priced at $96,330.
Decrypt tried reaching out to Brown's investment office for a comment, but we couldn't snag anyone before publishing this piece.
Edited by Andrew Hayward
Gossip Central
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Sources:
- Brown University Invested in Bitcoin, Filing Shows
- Brown University Makes Major Investment in Bitcoin
- Emory University's Bitcoin Exposure Tops $22 Million
- Bitcoin for Universities
- Universities Jump on the Bitcoin Bandwagon
- Brown University, reminiscent of the Ivy League, has added approximately $5.8 million worth of Bitcoin to its investment portfolio through BlackRock's iShares Bitcoin Trust ETF (IBIT).
- The university now owns 105,000 shares of IBIT, with each share valued at around $58,000 as of the latest count in 2024.
- The investment in Bitcoin is a small but significant portion of the university's endowment, which reached an astonishing $7.2 billion during its 2024 fiscal year.
- Brown's investment strategy involves a mix of stocks, bonds, private companies, real estate, commodities, and even crypto, such as Bitcoin.
- The University of Austin (UATX) and Emory University are also notable examples of educational institutions that have invested in Bitcoin, with the latter holding over $22 million in Bitcoin via the Grayscale Bitcoin Mini Trust.
- Universities are increasingly considering Bitcoin, with various institutions owning shares in popular crypto exchanges like Coinbase.
- The price of Bitcoin has shown significant fluctuation, reaching a high of nearly $98,000 in 2024, and currently standing at $96,330.
