Emory University Joins Bitcoin ETF Rush, Reporting $16M Holding in Grayscale Vehicle

As a seasoned crypto investor with over two decades of experience under my belt, I must say that Emory University’s decision to invest in Grayscale’s Bitcoin Mini Trust and Coinbase is an exciting development in the ever-evolving world of digital assets.

As a researcher, I’ve recently included Emory University, based in Atlanta, to the roster of institutional investors demonstrating interest in Bitcoin (BTC).

The university revealed in a recent SEC filing that it holds over $15 million of shares in the Grayscale Bitcoin Mini Trust (BTC), making it the first known endowment to openly disclose its investment in bitcoin, as reported by a leading ETF analyst.

Additionally, it was disclosed that Emory owned approximately 4,312 shares of Coinbase, with a worth of about 922.6 million dollars at the time of publication. As per their latest annual report released in August 2023, the university’s overall assets were estimated to be around 21 billion dollars.

Grants have been established for the purpose of financing organizations that are not-for-profit, such as hospitals, religious institutions, or educational institutions. To this point, it seems no other endowment has openly disclosed a position in a Bitcoin Exchange-Traded Fund (ETF), as suggested by Eric Balchunas, a senior ETF analyst for Bloomberg Intelligence.

Just like pension funds, endowment funds typically opt for a cautious investment strategy. Therefore, it’s worth noting that Emory’s decision to invest in a Bitcoin ETF stands out, as this asset class is generally considered riskier compared to their usual choices.

Previously, pension funds like those in Wisconsin were known to own shares in Bitcoin Exchange-Traded Funds (ETFs). Furthermore, the pension plan of Jersey City, New Jersey, has declared its intention to invest 2% of its total assets in these same ETFs.

Grayscale’s smaller Bitcoin fund debuted later than similar products, following their primary Bitcoin trust (GBTC) which experienced significant asset loss primarily due to its high fee of 1.5%. Surprisingly, the newer product has rapidly emerged as one of the more thriving Bitcoin investment funds, now ranking sixth in terms of assets managed with approximately $2.3 billion in Bitcoin, according to Bloomberg data.