Key Points
- Emory University has disclosed $15.1 million worth of holdings in Grayscale Bitcoin Mini Trust.
- The university also owns 4,312 shares in Coinbase, valued at $768,269.
Emory University, based in Atlanta, has revealed holdings of $15.1 million in the Grayscale Bitcoin Mini Trust. This is an unusual investment for an academic institution.
The disclosure was made in a filing on October 25 with the U.S. Securities and Exchange Commission. The filing indicates that Emory University holds close to 2.7 million shares of the Grayscale Bitcoin Mini Trust.
Investment in Cryptocurrencies
The approximate value of these holdings is $15.1 million, representing a significant commitment to cryptocurrency exposure by an academic institution. This investment differentiates Emory from other higher educational institutions.
The Grayscale Bitcoin Mini Trust, which was approved in July, is an extension of the larger Grayscale Bitcoin Trust. Its purpose is to offer passive exposure to Bitcoin’s price movements at a lower share price.
In addition to its holdings in the Bitcoin trust, Emory University also reported ownership of 4,312 shares in Coinbase, valued at $768,269. The stock of the cryptocurrency exchange, COIN, was valued at $205.05 at the time of reporting.
Emory University’s Distinctive Approach
Emory’s investment decisions set it apart from other educational institutions. Pension funds in Wisconsin and Jersey City have previously reported holdings in crypto-based exchange-traded products.
However, Emory University is one of the few higher education institutions to disclose ownership of such assets. This investment by a respected university established in 1836 could indicate increasing institutional acceptance of cryptocurrency-related investments in the academic sector.
This revelation comes at a time when Bitcoin is struggling to maintain its upward trend. Each time Bitcoin shows a bullish sign, various factors influence the overall market. Bitcoin was down by over 2% at the time of reporting. The global crypto market cap also decreased by almost 2%, standing at $2.27 trillion.
Other Universities and Cryptocurrency
Harvard University, Yale University, and Stanford University are among the high-profile institutions that have reportedly invested in cryptocurrency funds or Bitcoin trusts.
The Massachusetts Institute of Technology (MIT) has also been actively involved in the cryptocurrency space, not just through investments but also by contributing to research and promoting blockchain innovation.
The University of Michigan invested in Andreessen Horowitz’s crypto fund in 2018. Andreessen Horowitz has significant investments in cryptocurrency, including Bitcoin, suggesting that Bitcoin exposure was likely part of that portfolio.