An Official Institution in the US Reveals It Purchased Bitcoin

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Bitcoinsistemi2024/10/26 20:11

By:Mete Demiralp

A university in the US reported to the SEC that it had purchased a large amount of Bitcoin. Here are the details.

Emory University, a private research institution based in Atlanta, disclosed that it owns approximately 2.7 million Grayscale Bitcoin Mini Trust shares worth approximately $15.1 million, according to a filing with the U.S. Securities and Exchange Commission (SEC).

This means they bought the same value of BTC.

The investment sees Emory become one of the few academic institutions to report significant exposure to crypto assets. While several pension funds, including those in Wisconsin and Jersey City, have previously disclosed holdings in crypto-based exchange-traded products (ETPs), Emory’s stake in the Grayscale Bitcoin Mini Trust is notable in higher education circles.

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The Grayscale Bitcoin Mini Trust, approved in July, serves as a lower-cost derivative of Grayscale’s main Bitcoin Trust (GBTC). As a byproduct, it aims to give investors passive exposure to Bitcoin’s price action at a lower share price and a more certain way to gain exposure to Bitcoin.

In addition to its holdings in the Grayscale Bitcoin Mini Trust, Emory University also reportedly owns 4,312 shares of crypto exchange Coinbase worth $768,269.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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