In a nutshell
- Brown University has invested around $5.8 million in Bitcoin via BlackRock's iShares Bitcoin Trust ETF (IBIT), as per a recent SEC filing.
- As of March 31, Brown held 105,000 shares of IBIT, a number not listed in the previous quarter's filing.
Unveil SCENE
Brown University Invests Millions into Bitcoin through BlackRock's ETF Shares
In a groundbreaking move, Ivy League's Brown University has plunged into the world of cryptocurrency, acquiring nearly $5.9 million worth of Bitcoin via BlackRock's iShares Bitcoin Trust ETF (IBIT), according to the latest SEC filing (13F-HR).
This March 31 filing reveals that the university possessed 105,000 shares of IBIT, placing its Bitcoin exposure at a substantial $4.9 million at the end of the first quarter. Interestingly, these IBIT shares didn't show up in the previous quarter's filing.
Whilst a sizeable investment, it merely represents a dent in an endowment that swelled beyond $7.2 billion by the end of its 2024 fiscal year. The university's financial team, renowned for navigating the intricate financial markets, follows a diverse investment strategy that spans across stocks, bonds, private companies, real estate, and commodities, as stated by its 2024 endowment report.
Brown joins the exclusive ranks of universities exploring the digital goldmines of Bitcoin. In May 2024, the University of Austin (UATX) established a Bitcoin endowment worth $5 million in collaboration with Bitcoin services company Unchained. Later, Atlanta's Emory University reported close to $16 million in Bitcoin exposure via the Grayscale Bitcoin Mini Trust, with their most recent filing showing reduced shares but a stunning $22 million exposure thanks to the asset's soaring prices, and over $1 million in Coinbase shares.
These universities are not alone. An ever-growing list of institutions-from publicly traded corporations to world governments-are coursing headlong into the crypto arenas, keen on a slice of the pie that is Bitcoin, the world's largest cryptocurrency by market capitalization.
Prices of Bitcoin climbed to a new high of almost $98,000 on Friday, bouncing back from a local low of around $75,000 in early April. At present, Bitcoin is trading at a staggering $96,330.
Decrypt sought comment from Brown's investment office, but remained unsuccessful in securing a response prior to publishing this article.
Penned by Andrew Hayward**
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- Brown University's investment office, following its diverse investment strategy, recently ventured into the crypto sphere, acquiring $4.9 million worth of Bitcoin via BlackRock's iShares Bitcoin Trust ETF (IBIT), as per the latest SEC filing (13F-HR).
- The university's foray into Bitcoin, though substantial, amounts to a mere fraction of its endowment, which surpassed $7.2 billion by the end of its 2024 fiscal year.
- In the realm of finance and technology, Brown University joins institutions like the University of Austin (UATX) and Emory University, which also have substantial investments in cryptocurrencies like Bitcoin.
- With Bitcoin's price soaring, Emory University's latest filing shows a Bitcoin exposure of over $22 million, up from a $16 million exposure in previous filings, further underscoring the potential benefits of investing in cryptocurrency.
