Title: Prestigious US Institution Reveals Acquisition of Bitcoin
Emory University, a renowned private research institution based in Atlanta, has recently disclosed its ownership of approximately 2.7 million shares of Grayscale Bitcoin Mini Trust. This investment is valued at around $15.1 million, as reported in a filing with the US Securities and Exchange Commission (SEC).
In essence, Emory University has acquired an equivalent amount of Bitcoin through this purchase. This move places Emory among the select few academic institutions that have shown significant exposure to cryptocurrency assets. While some pension funds, including those in Wisconsin and Jersey City, have previously disclosed holdings in crypto-based exchange-traded products (ETPs), Emory’s stake in the Grayscale Bitcoin Mini Trust stands out within higher education circles.
The Grayscale Bitcoin Mini Trust, which gained approval in July, acts as a more affordable derivative of Grayscale’s main Bitcoin Trust (GBTC). By doing so, it provides investors with passive exposure to Bitcoin’s price movements at a lower share price, offering a more secure means of gaining exposure to Bitcoin.
Apart from its holdings in the Grayscale Bitcoin Mini Trust, Emory University is also reported to possess 4,312 shares of the cryptocurrency exchange Coinbase, valued at $768,269.
Please note that this article does not provide investment advice.
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