Emory University Secures 151M Investment in Grayscale Bitcoin Mini Trust
Emory University, an esteemed private research institution located in Atlanta, has recently disclosed its holdings in Grayscale Bitcoin Mini Trust, amounting to $15.1 million. This surprising investment by a higher education institution was disclosed in a filing with the U.S. Securities and Exchange Commission on October 25.
According to the filing, Emory University holds approximately 2.7 million shares of the Grayscale Bitcoin Mini Trust. This significant investment demonstrates the institution’s commitment to cryptocurrency exposure, setting it apart from other academic institutions.
The Grayscale Bitcoin Mini Trust, which was approved in July, functions as a subsidiary of the larger Grayscale Bitcoin Trust. Its purpose is to provide passive exposure to the price movements of Bitcoin at a lower share price.
In addition to its holdings in the Grayscale Bitcoin Mini Trust, Emory University also reported ownership of 4,312 shares in Coinbase, valued at $768,269. At the time of the filing, Coinbase’s stock, COIN, was valued at $205.05.
Emory’s investment choices distinguish it from other educational institutions. While pension funds in Wisconsin and Jersey City have previously reported holdings in crypto-based exchange-traded products, Emory is one of the few higher education institutions to disclose ownership of such assets.
This move by Emory University, a prestigious institution founded in 1836, could indicate a growing acceptance of cryptocurrency-related investments within the academic sector.
The disclosure by Emory University comes at a time when Bitcoin is facing challenges in maintaining its upward momentum. Various factors impact the overall crypto market whenever Bitcoin displays bullish signs.
At the time of reporting, Bitcoin was down by over 2%. The global crypto market cap also experienced a decline of almost 2%, reaching $2.27 trillion.
Notable institutions like Harvard University, Yale University, and Stanford University have also reportedly invested in cryptocurrency funds or Bitcoin trusts. MIT has been actively involved in the cryptocurrency space through both its investments and contributions to research and blockchain innovation. Additionally, the University of Michigan invested in Andreessen Horowitz’s crypto fund in 2018, indicating a potential exposure to Bitcoin within its portfolio.
In a separate development, victims of the $235 million hack on WazirX are planning to sue the cryptocurrency exchange in a class-action lawsuit.
