Emory University Doubled Its Bitcoin Investments

Emory University, located in the state of Georgia, USA, caught attention by doubling its Bitcoin investments in the third quarter. By holding over 1 million shares of the Grayscale Bitcoin Mini Trust, an exchange-traded fund (ETF) for Bitcoin, it highlighted the growing interest of institutional investors in this area.

In the 13F report shared by the university as of September 30, the value of the position in the Grayscale Bitcoin Mini Trust fund was recorded at approximately $52 million. In the previous quarter, it held just under 500,000 shares of this fund. This situation demonstrates Emory's aggressive growth strategy in sales and its appetite for investment in Bitcoin.

Emory University's interest in Bitcoin began in October 2024 when it entered the Grayscale product. At that time, the value of the position was only around $15 million. During this period, a smaller and unchanged position in BlackRock's spot Bitcoin ETF was maintained, with the value of BlackRock's ETF remaining around $290,000.

The university not only focused on Bitcoin ETFs but also opened a new position of approximately $79 million in other investment instruments, such as BlackRock iShares Gold Trust, during the third quarter. Additionally, it slightly increased its holdings in shares of cryptocurrency exchange Coinbase (COIN), raising the amount to 4,500 shares valued at $1.2 million.

Emory University’s aggressive investments in Bitcoin ETFs indicate a significant change in the risk appetite of endowment funds, which typically act more cautiously. Although these investments make up a small portion of the portfolio, the speed and scale of the increase point to institutional investors' growing confidence in Bitcoin through regulated ETF products. This situation stands out as significant data indicating a slow yet steady acceptance process of Bitcoin among institutional investors.