Ivy League endowment funds have reportedly been buying Bitcoin (BTC) through Coinbase and other crypto exchanges for months.
The Harvard University endowment, the largest in the world for an academic institution with over $40 billion in assets under management, as well as Yale and Brown’s endowments are reportedly buying crypto assets, reports Coindesk, citing sources familiar with the investments.
Those sources say many university endowments in the US are quietly allocating crypto in their portfolio. Some may have held accounts with Coinbase since mid-2019.
“Most have been in at least a year. I would think they will probably discuss it publicly at some point this year. I suspect they would be sitting on some pretty nice chunks of return.”
In 2018, The Information also reported that Harvard, Stanford, Dartmouth College, Massachusetts Institute of Technology, and the University of North Carolina had invested in at least one crypto fund.
Yale endowment chief investment officer David Swensen, who is often referred to as the Warren Buffett of institutional investing, is known to have invested in two venture funds dedicated to cryptocurrency.
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