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Emory University has put $15.8 million from its endowment into a publicly traded Bitcoin exchange-traded fund.
Industry analysts say Emory is the first college endowment to publicly disclose an investment into the Bitcoin exchange, though universities have invested in cryptocurrency, according to CoinDesk. In recent years, colleges have begun to accept gifts and donations in the form of cryptocurrency.
The analysts added that the Emory move is a milestone for Bitcoin exchange-traded funds, which were approved in January 2024, and shows confidence in the cryptocurrency.
The private university in Atlanta reported Friday that it purchased nearly 2.7 million shares of Grayscale Bitcoin Mini Trust. The college’s endowment is worth more than $10 billion, according to data released in August.