With the investment products surging in popularity since their approval earlier this year, Emory University has reported $16 million in Bitcoin ETF holdings. Indeed, the private university in Georgia disclosed holdings in Grayslace’s Bitcoin Trust and Coinbase.
The move is huge for the crypto sector, as Emory has become the first endowment to report exposure to the leading cryptocurrency. Moreover, it joins the growing list of institutions that are adopting the asset amid its rising popularity that has taken place throughout this year.
Also Read: Standard Chartered Says Republican Congress May Push Bitcoin to $125k
Emory University Discloses Landmark Bitcoin ETF Holdings
In January of this year, the US Securities and Exchange Commission (SEC) approved the first crypto-based ETF in the United States. Since then, those investment vehicles have dominated discussions within the finance sector. Moreover, they have driven increased interest from institutions that are looking to delve into the crypto sector.
That interest has extended to a host of industries, with another first taking place today. Indeed, Emory University has disclosed $16 million in Bitcoin ETF holdings in a new filing with the SEC. Specifically, they note that $15 million is in Grayscale’s offering, while they hold more than 4,300 shares of Coinbase.
Also Read: US Bitcoin ETFs Break Records: $1B Inflows Led by BlackRock
According to its most recent annual report, Emory’s total assets reached $21 billion in 2023. Moreover, Bloomberg’s Erich Balchunas notes that it has become the first non-profit institution to publicly report its Bitcoin disclosure. Therefore, it has widened the net of who could be investing in BTC substantially.
However, institutions adopting Bitcoin is nothing new in 2024. State pension funds have continued to grow their holdings in the asset. States like New Jersey and Wisconsin have allocated certain assets in their quest to continue evolving alongside the rapidly transforming global economy.
