Brown University's endowment has added bitcoin exchange-traded funds to its holdings, investing $4.9 million last quarter.
The university endowment purchased 105,000 shares of BlackRock's iShares Bitcoin Trust exchange-traded fund, according to a Form 13F filing to the Securities and Exchange Commission. The allocation to the ETF is a small percentage of the endowment's $7.2 billion in assets—less than 0.07%.
These ETFs, which provide exposure to cryptocurrency, have found their way into a handful of allocator portfolios, including the State of Wisconsin Investment Board and the state of Michigan Retirement System.
A 2024 paper from BlackRock found that a 1% to 2% allocation adds roughly the same portfolio risk as exposure to the average Magnificent Seven large-cap tech stock. But as exposure to bitcoin in a portfolio grows, its share of portfolio risk increases significantly. For example, a 4% allocation to bitcoin would account for 14% of portfolio risk, while a 1% to 2% allocation would account for around 2% to 5% of portfolio risk. According to BlackRock.
Brown's endowment returned 11.3% in fiscal 2024, second among Ivy League endowments to Columbia University's 11.5% return.
Related Stories:
BlackRock Identifies 1% to 2% as Optimal Bitcoin Allocation
UK Pension Allocates 3% of Portfolio to Bitcoin
Australian Super Fund AMP Makes Bitcoin Allocation
免責聲明:info@kdj.com
所提供的資訊並非交易建議。 kDJ.com對任何基於本文提供的資訊進行的投資不承擔任何責任。加密貨幣波動性較大，建議您充分研究後謹慎投資！
如果您認為本網站使用的內容侵犯了您的版權，請立即聯絡我們（info@kdj.com），我們將及時刪除。
