Emory University Makes History by Acquiring $15M Worth of Bitcoin (BTC) ETF Shares

This positions Emory as the first college endowment to report holding shares in a BTC ETF, noted Eric Balchunas, a Bloomberg ETF analyst.

Emory University has disclosed a recent acquisition of Bitcoin (BTC) exchange-traded fund (ETF) shares, valued at over $15 million, according to a regulatory filing on October 25. This marks the first time a college endowment has reported holding shares in a BTC ETF, as noted by Eric Balchunas, a Bloomberg ETF analyst, in an October 28 post on the X platform.

The filing shows that Emory holds nearly 2.7 million shares of Grayscale Bitcoin Mini Trust (GBTC), which were valued at approximately $15.1 million at the time of the disclosure. Balchunas highlighted that this development now positions every type of institution to be represented in BTC ETF 13Fs, which are public disclosures that large US investment managers are required to file quarterly.

The introduction of Bitcoin ETFs in January has played a key role in legitimizing BTC as an asset class, leading to widespread adoption among institutional investors. The State of Michigan Retirement System also reported investments in a spot Bitcoin ETF offered by ARK 21Shares, with the shares valued at around $6.6 million at the time of filing, a small fraction of the fund’s extensive assets.

According to Nate Geraci, president of The ETF Store, in a post on the X platform, cryptocurrency funds have been a major driving force in the ETF market, accounting for 13 of the 25 largest ETF launches in 2024 by inflows through August. Moreover, Bitcoin has been a dominant presence in the ETF landscape this year, with six of the top 10 most successful launches in 2024 being Bitcoin ETFs, Geraci added.

In addition to Bitcoin ETFs, several Ether (ETH) ETFs launched in July have attracted over $1 billion in net inflows to date. ETF issuers are now seeking to register ETFs for other tokens, including Solana (SOL) and XRP. In July, securities exchange Cboe applied for regulatory approval to list VanEck’s and 21Shares’ planned SOL ETFs. Later in October, ETF issuers Canary Capital and Bitwise both filed for proposed XRP ETFs.

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