The University of Austin is making major moves in institutional Bitcoin adoption, planning to launch a dedicated Bitcoin investment fund.
This initiative reflects the increasing interest among US institutions to adopt Bitcoin and other digital assets.
University Endowment Funds Increasingly Embrace Crypto
Latest reports reveal that the University of Austin, established just a year ago, is raising a $5 million Bitcoin fund as part of its $200 million endowment. This move positions it as the first institution in the US to introduce a dedicated crypto endowment fund.
Chad Thevenot, the university’s senior vice president for advancement, stated that the Bitcoin holdings will remain untouched for at least five years. He likened Bitcoin’s long-term value to traditional investment assets such as real estate and equities.
“We think there is long-term value there, just the same way that we might think there is long-term value in stocks or real estate,” Thevenot explained.
While this marks a significant step in institutional crypto adoption, Austin is not alone. Last year, Emory University invested over $15 million in Bitcoin through Grayscale’s spot Bitcoin exchange-traded fund (ETF). It was the first endowment to gain direct exposure to the leading cryptocurrency.
Historically, endowments have maintained a conservative stance on cryptocurrencies, largely avoiding them. However, shifting regulatory landscapes and increasing acceptance of digital assets are encouraging a change in strategy.
Why Are Endowment Funds Turning to Bitcoin?
The growing pro-crypto stance of the US government has played a role in accelerating institutional interest. A recent executive order focused on strengthening leadership in digital finance is pav
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Author: Oluwapelumi Adejumo
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