Report: Harvard, Stanford, MIT Endowments All Invest in Crypto Funds
Multiple Ivy League and other prestigiousuniversities are said to have made investments into “at least” one cryptocurrency fund. The was published by the technology news site Information Wednesday, Oct. 10.
Citing an unnamed source, the Information reported that 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 the crypto space. This is “a sign of the asset class’ growing acceptance among institutional investors,” the source said.
Harvard’s endowment isto have hit $39.2 billion during the fiscal year 2018, making it “by far the largest university endowment across the globe.” In the rankings for the previous fiscal year, both Stanford and MIT’s endowments scored within the top ten – fourth and sixth respectively – with Dartmouth College and the University of North Carolina also appearing in the top twenty five.
Aslast week, fellow Ivy League titan Yale has also just been revealed to be a 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 co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and Charles Noyes, formerly of stalwart crypto fund .
With news that the world’s leading academic players are backing the emerging asset class, a host ofhave also been contributing to skill acquisition in the space by offering blockchain, smart contract, and cryptocurrency-related . Institutions such as Cambridge University have conducted substantial into the crypto-finance field, and Swiss university Lucerne even Bitcoin payments for tuition fees.