Brown University Bets on Bitcoin With Millions Worth of BlackRock ETF Shares
Summary
Brown University holds 105,000 shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT), valued at approximately $4.9 million as of March 31, with current value around $5.8 million. This investment is a small part of Brown's endowment, which exceeds $7.2 billion. The university's endowment report highlights a diverse investment strategy managed by professional investors. Other universities have also invested in Bitcoin, including the University of Austin, which established a $5 million Bitcoin endowment, and Emory University, with nearly $16 million in Bitcoin exposure through the Grayscale Bitcoin Mini Trust. Bitcoin's price recently approached $98,000, recovering from a low of around $75,000 in early April.
