Stanford’s Blyth Fund has allocated 7% of its portfolio for new crypto investments, specifically for Bitcoin through Blackrock’s spot Bitcoin ETF.
Kole Lee, a leader at the Stanford Blockchain Club, has revealed that the University has made new crypto investments. The students at Stanford University manage the Blyth Fund, which recently allocated 7% of its portfolio to Bitcoin. Lee revealed that the fund bought BTC at $45,000 after his pitch to Stanford’s Blyth Fund received approval. The Stanford Blockchain Club leader announced the news on his social media profile.
Further, Kole Lee was quoted saying, “The Blyth Funds are separately managed funds that are part of the expandable fund pool and give discretion in investing decisions to students. Thus, I thought the ETF was a wonderful opportunity for Blyth to buy Bitcoin.”
Lee also explained how he convinced the Blyth Fund to invest in Bitcoin. According to him, his pitch adhered to the current bullish sentiments in the market. Moreover, he described the Bitcoin ETF inflows, hedge against ‘monetary chaos and war,’ and market cycles in his pitch.
The Blyth Fund invested in Bitcoin through Blackrock’s spot Bitcoin ETFs, which received approval in January 2024. The fund’s reputation and decision to invest in crypto are proof of the sector’s rising popularity. Since their approval, the spot Bitcoin ETFs have seen billions of inflows, helping BTC cross it’s all-time highs.
Since students run the fund, their crypto and blockchain awareness might also expand after the investment. Recently, stablecoin firm Tether launched an educational program to train people about crypto and blockchain.
Meanwhile, BTC’s price levels continue to trade with bullish signals in the crypto market. The year ahead could see more price jumps soon.
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