Emory University Holds $15.1M in Grayscale Bitcoin Mini Trust

Emory University, a private research institution in Atlanta, reported $15.1 million in assets in the Grayscale Bitcoin Mini Trust.

This unusual move for a higher education institution was revealed in a filing with the U.S. Securities and Exchange Commission on October 25.

Emory University owns approximately 2.7 million shares of Grayscale Bitcoin Mini Trust, according to an SEC filing.

The provisional value of the assets was approximately $15.1 million. This investment represents a major commitment to an academic institution’s exposure to cryptocurrency. This move also sets it apart from its peers in higher education.

Approved in July, the Grayscale Bitcoin Mini Trust operates as an offshoot of the larger Grayscale Bitcoin Trust. The mini trust is designed to provide passive exposure to Bitcoin’s price movements at a lower share price.

Emory reported owning 4,312 shares in Coinbase valued at $768,269, in addition to its Bitcoin (BTC) trust holdings. The cryptocurrency exchange’s stock COIN was valued at $205.05 at the time of writing.

Emory University stands out

Emory’s investment choices point to a different approach among educational institutions. Previously, pension funds in Wisconsin and Jersey City reported holdings in crypto-based exchange-traded products.

But Emory stands out as one of the few higher education institutions to report having such assets.

This move by a prestigious university founded in 1836 may point to growing institutional acceptance of cryptocurrency-related investments in the academic sector.

The university’s statement comes at a time when Bitcoin is struggling to maintain its upward momentum. When Bitcoin shows signs of rising, various factors affect the overall market.

Bitcoin was down over 2% at the time of writing. The value of the global crypto market also decreased by almost 2%, reaching $2.27 trillion.

Colleges and crypto funds

Harvard University, Yale University and Stanford University are among the high-profile institutions reportedly investing in cryptocurrency funds or Bitcoin trusts.

MIT (Massachusetts Institute of Technology) has been actively involved in the cryptocurrency space, not only through its investments but also by contributing to research and promoting blockchain innovation.

The University of Michigan also invested in Andreessen Horowitz’s crypto fund in 2018. Andreessen Horowitz has significant investments in cryptocurrency, including Bitcoin, so Bitcoin is likely to be part of this portfolio.