Harvard University and Brown University have both made significant investments in Bitcoin through BlackRock’s iShares Bitcoin Trust, according to recent regulatory filings.
Investment Details
The Harvard Management Company, a subsidiary of the university, has invested $116 million in BlackRock’s iShares Bitcoin Trust, as shown in a 13F form filed with the Securities and Exchange Commission. Brown University has also increased its position in the ETF, now holding $13 million worth of shares.
Institutional Interest in Cryptocurrency
These filings highlight the growing interest among traditional institutions in gaining exposure to Bitcoin, the largest cryptocurrency by market cap. BlackRock’s Bitcoin Trust, trading under the symbol IBIT, allows investors to gain exposure to Bitcoin without directly owning the digital asset.
Market Impact
Since the approval of Bitcoin ETFs in January 2024, there has been a significant influx of capital into the crypto market. This has made it easier for investors, including pension funds and U.S. states, to invest in Bitcoin alongside more traditional assets like tech stocks.
Future Outlook
The trend of institutional investment in Bitcoin is expected to continue, as more investors seek to diversify their portfolios with cryptocurrency exposure. The success of BlackRock’s IBIT, which currently manages $86.3 billion in assets, underscores the growing acceptance of crypto ETFs.
