Brown University Reveals $4.9 Million Investment in Bitcoin Through BlackRock’s IBIT ETF

Brown University has embarked on its initial investment in Bitcoin (BTC), contributing $4.9 million to BlackRock’s iShares Bitcoin Trust (IBIT), as detailed in a recent filing with the US Securities and Exchange Commission.

The prestigious university acquired 105,000 shares of this exchange-traded fund during the first quarter, resulting in this investment constituting around 2.3% of its total $216 million equity portfolio.

This acquisition positions Brown alongside a growing number of traditional institutions opting for regulated financial instruments to gain exposure to digital assets.

Adoption through Bitcoin ETFs

Spot Bitcoin ETFs, created to directly mirror Bitcoin’s price, have gained significant traction among hedge funds, pension funds, and now university endowments.

Since receiving SEC approval in January 2024, BlackRock’s IBIT has become a preferred option for institutions. Within just a year, it has established itself as one of the top-performing ETFs in market history.

By March 31, IBIT had approximately 576,038 Bitcoin, reflecting net assets totaling $47.78 billion.

Brown’s move highlights a larger trend of long-term asset managers pursuing Bitcoin exposure via established financial frameworks. Spot ETFs like IBIT provide institutions with a means to engage with Bitcoin without the complexities associated with custody or direct management of tokens.

Universities adopting Bitcoin

Though university endowments have generally been hesitant, there has been a noticeable shift in recent months. The University of Austin declared in February its intention to invest $5 million of its endowment into Bitcoin.

This investment will be managed in collaboration with Unchained and is structured to have a minimum holding period of five years.

Other institutions, such as Stanford and Emory, have also disclosed their involvement with Bitcoin through regulated investment vehicles. These developments indicate a slow but steady acceptance of digital assets in institutional portfolios, which were once deemed too conservative for such investments.

At the time of the announcement, Bitcoin was trading just below $97,000, according to available market data.