Brown University has recently made headlines with its first reported investment in Bitcoin (BTC). The prestigious Ivy League institution has invested $4.9 million in BlackRock’s iShares Bitcoin Trust (IBIT), as revealed in a 13F filing submitted to the US Securities and Exchange Commission.
During the first quarter, Brown University acquired 105,000 shares of the ETF, representing approximately 2.3% of its reported $216 million equity holdings. This move marks the university’s entry into the world of digital assets, joining a growing list of traditional institutions seeking exposure to cryptocurrencies through regulated investment vehicles.
The adoption of Bitcoin ETFs, such as BlackRock’s IBIT, has been on the rise among hedge funds, pensions, and now university endowments. These ETFs are designed to track the price of Bitcoin directly, providing institutions with a familiar financial structure to gain exposure to the digital asset. Since its approval by the SEC in January 2024, IBIT has become one of the best-performing ETFs in the market, with holdings of approximately 576,038 Bitcoin as of March 31.
Brown University’s decision to invest in IBIT reflects a broader trend of long-term asset managers seeking Bitcoin exposure through regulated products. By utilizing spot ETFs, institutions can access Bitcoin without the operational burden of custody or direct token management.
While university endowments have historically been cautious about digital assets, recent months have seen a shift in sentiment. The University of Austin, for example, announced a $5 million allocation to Bitcoin in partnership with Unchained, with a five-year minimum holding period. Other institutions, including Stanford and Emory, have also reported exposure to Bitcoin through regulated investment products, signaling a gradual normalization of digital assets within institutional portfolios.
At the time of Brown University’s disclosure, Bitcoin was trading just under $97,000. This investment decision comes at a time when the total crypto market is valued at $3.01 trillion, with Bitcoin dominance at 63.80%.
Overall, Brown University’s venture into Bitcoin through IBIT showcases the increasing acceptance of digital assets within traditional financial institutions and underscores the growing importance of cryptocurrencies in diversified investment portfolios.