Brown University Bets Big on Bitcoin—Drops $4.9M into BlackRock’s IBIT ETF

Ivy League money meets crypto volatility—Brown University just disclosed a $4.9 million wager on Bitcoin via BlackRock’s IBIT ETF. Because nothing says ’prudent endowment management’ like chasing the digital gold rush.

Wall Street’s latest crypto pivot gets an academic stamp of approval. Meanwhile, tuition costs still only payable in fiat (for now).

Adoption via Bitcoin ETFs

Designed to track the price of Bitcoin directly, spot Bitcoin ETFs have seen widespread adoption across hedge funds, pensions, and now university endowments.

BlackRock’s IBIT has emerged as a favored entry point for institutions since the SEC approved it in January 2024. In less than a year, the fund became one of the best-performing ETFs in the market’s history.

As of March 31, IBIT held roughly 576,038 Bitcoin, equating to net assets of $47.78 billion.

Brown’s decision reflects a broader trend among long-term asset managers seeking Bitcoin exposure through familiar financial structures. Spot ETFs like IBIT allow institutions to access Bitcoin without the operational burden of custody or direct token management.

Universities embracing Bitcoin

While university endowments have largely remained cautious, recent months have seen a shift. The University of Austin announced in February that it would allocate $5 million of its endowment to Bitcoin.

The fund would be held in partnership with Unchained and was set up with a five-year minimum holding period.

Other schools, including Stanford and Emory, have also reported exposure to Bitcoin through regulated investment products. These moves suggest a gradual normalization of digital assets within institutional portfolios once considered too conservative for crypto holdings.

At the time of the disclosure, Bitcoin was trading just under $97,000, based on CryptoSlate data.