Emory University Discloses Over $15M Spot Bitcoin ETF Holdings

Emory University, an Atlanta-based private research institution, has joined the growing list of institutional investors embracing Bitcoin. According to a recent filing with the United States Securities and Exchange Commission (SEC), the university holds over $15 million in spot Bitcoin exchange-traded funds (ETFs).

The latest disclosure represents an academic institution’s significant commitment to cryptocurrency exposure.

Emory University Invests in Grayscale’s BTC

According to the filing, Emory University holds nearly 2.7 million shares of the Grayscale Bitcoin Mini Trust (BTC), valued at about $15.8 million.

Approved in July, the Grayscale Bitcoin Mini Trust is an offshoot of the existing Grayscale Bitcoin Trust. It is designed to provide passive exposure to Bitcoin’s price movements at a lower fee.

Aside from its investment in Grayscale’s BTC, Emory revealed holding 4,312 shares of Coinbase, valued at $922,639 million as of press time. With the latest disclosure, the university becomes the first endowment to report an investment in spot Bitcoin ETF publicly.

For context, an endowment is an investment portfolio aimed at charitable use by non-profit institutions, including universities and churches.

Institutional Investor Influx Heightens

The news was met with excitement from the crypto community as it highlights the growing interest in Bitcoin within the academic sector.

Commenting on the disclosure, Bloomberg’s senior ETF analyst Eric Balchunas noted that with Emory’s investment, every major institutional category is now represented in Bitcoin ETFs. He further highlighted that this move signals the rising interest in the product across various sectors.

“With that, every institution type is now represented in the btc etf 13Fs (endowment, bank, HF, Ins Co, Advisor, Pension, PE, Holding Co, Vc, Trust, Family Office, Brokerage). Absolutely insane feat for category less than year old, akin to winning all four tennis grand slams bf 16th bday,” he wrote in an X post.

Since the approval of a spot Bitcoin ETF in the U.S. in January, the product has received massive attention from institutions. This investment vehicle allows institutional investors to gain exposure to the leading cryptocurrency without the hassles of direct ownership, such as storage and security.

According to a recent Binance Research report, over 1,200 institutions hold Bitcoin ETFs, demonstrating an adoption rate that outpaces that of early gold ETFs, which saw only 95 institutional investors within its first year.