Brown University With $7.2 Billion Endowment Discloses $4.9 Million BlackRock Bitcoin ETF Investment

An Ivy League university, Brown University, has disclosed an investment of around $4.9 million in BlackRock's spot Bitcoin ETF (IBIT), making it the third college endowment to hold Bitcoin exposure through this financial vehicle.

This is according to an analysis by DeepNewz of the university's latest quarter-end filing. The filing, which covers the period ending Sept. 30, also showed that the university's endowment has declined by 1.2% from the previous quarter.

The new investment in the Bitcoin ETF is part of a broader trend among universities to begin including cryptocurrency assets in their portfolios. However, the size of the investment and the overall makeup of Brown's endowment suggest a cautious approach.

Despite the university's early adoption of blockchain technology with the launch of its Digital Innovation Center in 2019, and its involvement in cryptocurrency-related academic programs, the varsity's endowment has yet to make any significant investments in the cryptocurrency market.

This is in contrast to other universities, such as Michigan State University, which has been investing in Bitcoin since 2020, and Georgetown University, which began its cryptocurrency allocation in 2021. Both universities have already sold off their entire cryptocurrency holdings.

The move by Brown University to invest in BlackRock's Bitcoin ETF comes as several universities are facing difficulties with their endowments due to the downturn in the market.

According to a report by eWPT, university endowments saw losses of 13.3% in the last fiscal year, the worst performance since the 2009 financial crisis. The endowments had gained 27.3% in the previous fiscal year, the best performance since 1991.output: Ivy League university Brown University has disclosed an investment of around $4.9 million in BlackRock's (NYSE:BLK) spot Bitcoin (BTC) ETF (NYSE:IBIT). This is according to an analysis by DeepNewz of the university's latest quarter-end filing.

The filing, which covers the period ending Sept. 30, also showed that the university's endowment has declined by 1.2% from the previous quarter.

The new investment in the Bitcoin ETF is part of a broader trend among universities to begin including cryptocurrency assets in their portfolios. However, the size of the investment and the overall makeup of Brown's endowment suggest a cautious approach.

After Brown launched its Digital Innovation Center in 2019, and the varsity began including cryptocurrency assets in some of its academic programs, there was speculation that the university would also be making a move into the cryptocurrency market with its endowment.

While the university has not yet made any significant investments in the cryptocurrency market, the latest filing showed that the university has now made a small investment in BlackRock's flagship Bitcoin ETF.

The university's endowment had a book value of $7.2 billion at the end of September, and its new investment in the Bitcoin ETF is less than 1% of the total endowment.

The investment in the Bitcoin ETF is part of a broader shift in investment strategy by Brown University, which is also making new investments in emerging technologies, private equity, and hedge funds.

The university's endowment is used to fund a variety of programs and initiatives, including scholarships, faculty research, and new buildings.

The latest figures show that Brown University's endowment has been hit hard by the market downturn, but the university is still in a strong financial position.

The university's endowment is used to fund a variety of programs and initiatives, including scholarships, faculty research, and new buildings.

The university's endowment is funded by donations from alumni, parents, and other donors.output: This is an AI-generated article by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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