Harvard Management Company (HMC), the company responsible for the management of the $53 billion endowment fund at Harvard University, reported an investment worth millions in BlackRock’s Bitcoin Exchange-Traded Fund (ETF).
Harvard filed an SEC filing Friday. disclosed iShares Bitcoin): 1.9 Million shares.BTC) ETF as of June 30. BTC was the fifth biggest investment after Microsoft and Amazon.
Harvard, Yale, Stanford and Princeton are the top three US Universities in terms of endowment funds.
“The endowment and its asset allocation is [sic] set up to anticipate you’re gonna have some volatile periods,” said Robert Kaplan, Martin Marshall Professor of Management Practice in Business Administration, in an explanation video from 2017.
Harvard is reportedly focusing its investments on 2025 technology firms, despite the fact that it appears to be primarily focused on this. considered buying shares in crypto funds As early as 2018 Emory University was the first US university endowment to disclose exposure to ETFs that track digital assets in 2024. buying 2.7 million shares Grayscale Bitcoin Mini Trust was worth over $15 million when it was created.
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The journey from SEC adoption to university adoption
SEC approved the listing and trading The fund will hold the BlackRock BTC ETF as well as 10 other funds by January 2024. The fund has grown BlackRock says that the net asset value of BlackRock as at Thursday was more than 86 billion dollars.
The SEC held its Tuesday meeting. said it would increase The number of options contracts allowed has been increased to 250,000, up from 25,000 “for all ETFs with options,” This would include the iShares Bitcoin ETF. Many expect that the demand for crypto investments will increase.
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Source: cointelegraph.com
