Brown University is now a Bitcoin (BTC) investor.
The Ivy League institution holds 105,000 shares of BlackRock’s iShares Bitcoin exchange-traded fund (IBIT), per a recent filing submitted to the U.S. Securities and Exchange Commission (SEC).
[adinserter block="1"]The filing valued the shares at $4.915 million, though with IBIT priced at $55.19 per share at time of writing, that total is now worth $5.79 million.
Brown’s investment follows two other notable examples of higher educational institutions buying BTC.
Emory University, a private research institution in Atlanta, holds 2,678,906 shares of the Grayscale Bitcoin Mini Trust ETF, per a filing submitted to the SEC last year.
The school also bought 4,312 shares of the crypto exchange Coinbase’s stock.
And the University of Austin (UATX), which enrolled its first cohort last fall, announced plans last year to invest in a $5 million long-term endowment fund held in Bitcoin.
Chad Thevenot, UATX’s senior vice president for advancement, says the university views investing in crypto assets the same way it sees investing in other asset classes.
“We think there is long-term value there, just the same way that we might think there is long-term value in stocks or real estate.”
Bitcoin is trading at $96,723 at time of writing and is up more than 2% in the past seven days.
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