Harvard Management Company is the organization responsible for managing $53 billion of endowment funds at Harvard. The company has invested multi-millions in BlackRock’s Bitcoin ETF.
Harvard filed an SEC filing Friday. disclosed iShares Bitcoin): 1.9 Million shares.BTCAs of 30 June, the ETF was worth more than $116 million. BTC was the fund’s 5th largest investment, behind Microsoft, Amazon Travel Technology, Booking Holdings and Meta.
Harvard, Yale, Stanford, Princeton and Stanford all reported endowment funds of $53.2 billion by June 30 2024. This makes Harvard the most wealthy US university.
“The endowment and its asset allocation is [sic] set up to anticipate you’re gonna have some volatile periods,” said Robert Kaplan explains the endowment in this 2017 video.
Harvard University reported that although the endowment seemed to be focused primarily on investing in technology companies by 2025, it is actually a mix of both. considered buying shares in crypto funds Already in 2018. Emory University is one of the first US endowments that will report its exposure to digital assets ETFs by 2024. buying 2.7 million shares Grayscale Bitcoin Mini Trust was worth over $15 million when it was created.
Related: Austin University to launch $5M Bitcoin fund with 5-year HODL strategy: Report
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 is a grown BlackRock says that the net asset value of BlackRock as at Thursday was more than $86.5 billion.
The SEC held its Tuesday meeting. said it would increase The number of options contracts allowed has been increased to 25,000 from 250,000 “for all ETFs with options,” The iShares Bitcoin ETF would be included. Others expect that this move will lead to an increase in demand for cryptocurrency investment vehicles.
Magazine: Bitcoin inheritances: A guide for heirs and the not-yet-dead
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
