Emory University Holds $15.1M in Grayscale Bitcoin Mini Trust

Emory University has made a notable move into the cryptocurrency space, revealing that it holds $15.1 million in Grayscale Bitcoin Mini Trust. This was disclosed in an Oct. 25 filing with the U.S. Securities and Exchange Commission (SEC).

According to the filing, Emory University owns 2.7 million shares in the Grayscale Bitcoin Mini Trust, a relatively new investment product that provides passive exposure to Bitcoin’s price movements but at a lower share price than the larger Grayscale Bitcoin Trust. This marks a significant step for a higher education institution, especially given the size of the holding.

In addition to its Bitcoin-related holdings, Emory also reported owning 4,312 shares of Coinbase, the cryptocurrency exchange, valued at $768,269. The university’s move sets it apart from its academic peers, making it one of the few to openly embrace cryptocurrency investments.

While it is not uncommon for pension funds and city funds, like those in Wisconsin and Jersey City, to invest in cryptocurrency, Emory’s commitment represents a distinctive shift for academic institutions. The university, founded in 1836, may be signaling a growing institutional acceptance of cryptocurrency within higher education.

This investment announcement comes during a time when Bitcoin is facing some market turbulence, as it had fallen by over 2% in value at the time of the report. The broader cryptocurrency market was also down by about 2%, with a global market cap of $2.27 trillion.

Other Ivy League schools and prominent universities, like Harvard, Yale, and Stanford, have also dipped into cryptocurrency investments, typically through funds and trusts. MIT has been especially active, not only investing but also fostering blockchain research. Similarly, the University of Michigan invested in Andreessen Horowitz’s crypto fund back in 2018, likely gaining exposure to Bitcoin through that venture.