Crypto Funds Get Investments from Stanford, Harvard, MIT, North Carolina and More Per New Report
Ivy League and Other US Varsities Invest in Crypto Fund – Report
A new report claims that leading varsities in the United States (Ivy League) and others hold an investment in at least one cryptocurrency fund.
According to the technology news site Information…which released the report on Wednesday, Oct. 10…the multi-billion endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology (MIT), and the University of North Carolina had all invested capital in crypto funds.
The report cited unnamed sources as saying the claim, if true,
“It is a sign of the asset class’ growing acceptance among institutional investors.”
Pegged at $39.2 billion, Harvard’s 2018 endowment is reported to be by far the largest university endowment across the globe.”
For the other varsities named, including Stanford and MIT, their endowments are among the top ten in the U.S with both coming fourth and sixth respectively.
Similarly, it had been reported that fellow Ivy League titan Yale is also a secret crypto investor. The college is said to have been one of those that helped to raise $400 million for a new crypto-focused fund created by Coinbase co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and Charles Noyes, formerly of stalwart crypto fund Pantera Capital.
With news, it may be a pointer that the world’s top universities aren’t only stopping at contributing to skill acquisition in the space by offering blockchain, smart contract, and cryptocurrency-related courses–but may be backing the emerging asset class,
So far Institutions such as Cambridge University have conducted substantial research into the crypto-finance field, and Swiss university Lucerne even accepts Bitcoin payments for tuition fees.