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Brown University Has Made a Significant Move into Cryptocurrency Investing
In a recent move, Brown University has made the decision to invest in Bitcoin through the popular cryptocurrency ETF, IBIT. This significant development highlights the growing trend of institutional adoption and acceptance of digital assets among prominent institutions.
According to reports, Brown University’s endowment has seen significant growth over the past year, with an impressive 11.3% return, generating $728 million in profits. The university’s decision to allocate a portion of its endowment to Bitcoin demonstrates a shift towards greater diversification and willingness to explore new investment opportunities.
It is worth noting that IBIT has experienced a remarkable streak of consecutive inflows, recording a total of 13 days of asset growth. This influx of capital has pushed the ETF’s assets under management (AUM) to an astonishing $58.7 billion.
The move by Brown University suggests that institutional investors are increasingly looking at Bitcoin as a viable alternative for traditional assets and investment strategies. The university’s decision also underscores the growing confidence in cryptocurrency markets, with many experts attributing recent price movements to increased institutional interest.
As reported previously by U.Today, Bitwise CEO Hunter Horsley recently stated that institutional buyers have been driving Bitcoin’s recent rally. This sentiment is echoed by Brown University’s bold move into the space.
This significant development highlights the importance of tracking and understanding the growing trend of institutional adoption in the cryptocurrency market. As a result, it will be essential to monitor further developments and potential changes in asset allocation strategies among institutions as the market continues to evolve.
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Source: https://u.today/brown-university-buys-bitcoin
