Report: Harvard, Stanford, MIT Endowments All Invest in Crypto Funds

Article by · October 11, 2018 ·

A published report by the technology news site Information on Wednesday, Oct. 10 disclosed that Multiple Ivy League and other prestigious U.S. universities have made investments into “at least” one cryptocurrency fund.

An anonymous source told the Information that capital had been invested in the crypto space by the multi-billion endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology (MIT), as well as the University of North Carolina. This is “a sign of the asset class’ growing acceptance among institutional investors,” the source stated.

During the fiscal year 2018, Harvard’s worth according to report have hit $39.2 billion making it “by far the largest university endowment across the globe.” In the previous fiscal year U.S. college rankings, both Stanford and MIT’s were ranked among the top ten where Stanford was ranked the fourth and sixth in ranking was MIT. Dartmouth College and the University of North Carolina were also listed among the top twenty-five.

According to a report Last week, titan Yale, a  fellow Ivy League has also been disclosed to be a crypto investor. The college is said to be among those that assisted to come up with $400 million for a new crypto-based fund established by Coinbase co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and also Charles Noyes, formerly of stalwart crypto fund Pantera Capital.

Following the report that the world’s leading academic players are supporting the upcoming asset class, a number of highly ranked international universities have also been rendering their support to the acquisition of skills in the space by offering courses that are related to the blockchain, smart contract, and cryptocurrency. Universities like Cambridge University have carried out an intensive investigation into the crypto-finance field, and Bitcoin payments were even accepted as tuition fees by the Swiss university Lucerne.

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