- U.S. endowments are allegedly investing more in crypto.
- Institutions like Emory and the University of Austin are integrating Bitcoin into their endowments.
U.S endowments have supposedly joined on crypto investments. A Financial Times report revealed that the rise in Bitcoin’s value prompted this move, with learning institutions actively exploring the crypto space.
Emory University in Georgia, U.S., disclosed that it had millions of Grayscale’s Bitcoin ETF. The University of Austin announced plans to raise a $5 million Bitcoin fund to augment its $200 million endowment.
Rockefeller Foundation also reported considering making more investments in crypto. Chun Lai, the foundation’s chief investment officer, told FT, “We don’t want to be left behind when their potential materializes dramatically.”
See Related: U.S. Stocks Rose On Wednesday. The Focus Of Investors Now Turns To Inflation Reports And Major Bank Earnings
Behind The Leap
Growing political backing was a key driving force for crypto adoption. Trump has courted crypto cash since his campaign trail, pitching himself as the “crypto president,” which promoted the exploration of digital assets.
Trump’s executive order for new crypto-assets regulations sent a strong signal to the crypto world. The directive gave CFOs more confidence in dealing with Bitcoin financial reporting and compliance risks.
Nathan McCauley, the CEO and Co-Founder of crypto company Anchorage Digital, said in a statement: “Today’s crypto executive order marks a sea change in U.S. digital asset policy. By taking a whole-of-government approach to crypto, the Administration is making a significant first step toward writing clear, consistent rules of the road.“
This policy shift underscores the growing legitimacy of cryptocurrencies and could help bring digital assets into the mainstream.
