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Alternative Market Briefing

Top U.S. universities invest in crypto funds

Friday, October 12, 2018

Laxman Pai, Opalesque Asia:

At least five of the world's major universities, including Harvard, Stanford and MIT, have invested in cryptocurrency funds.

Following reports that Yale invested in the cryptocurrency investment fund Paradigm, more members of the prestigious Ivy League have reportedly invested in cryptocurrency funds.

According to a report by The Information, the endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology and the University of North Carolina have invested into at least one cryptocurrency fund.

"While many institutions have been reluctant to invest directly in cryptocurrency because of a lack of technical knowledge and uncertainty about how to store the assets securely, the move by some top universities means that several of the most high-profile institutions in the country are finally ready to enter the sector," said the report.

A report in Bitcoin News said that these are some of the highest caliber universities in the United States, all with endowments in excess of USD 1 billion, and can be considered institutional investors.

These five universities follow the lead of Yale University, which invested some of its USD 30 billion endowment in two crypto funds. Yale is investing in the cryptocurrency fund Paradigm that is comprised of Coinbase co-founder Fred Ehrsam, Sequoia Capital's Matt Huang, and Charles Noye of Pantera Capital.

Yale's fund is led by David Swensen, a......................

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