Emory University Becomes First Endowment to Report Bitcoin Spot Exchange-Traded Fund Position

The university disclosed it holds $15.1 million worth of spot Bitcoin (BTC) ETF in a filing with the U.S. Securities and Exchange Commission.

Emory University, a private research university in Atlanta, Georgia, has disclosed a new seven-figure position in a Bitcoin spot exchange-traded fund.

The university disclosed the $15.1 million spot Bitcoin (BTC) ETF position in a filing with the U.S. Securities and Exchange Commission. Specifically, Emory revealed it added shares of the Grayscale Bitcoin Mini Trust to its portfolio. The university also reported a 4,312-share stake in Coinbase, the largest U.S.-based crypto exchange, valued at approximately $922,639 at the time of the university’s 13F filing.

First endowment to report spot BTC ETF

According to Eric Balchunas, a senior ETFs analyst for Bloomberg, Emory University is the first endowment to add a Bitcoin ETF to its portfolio. This development marks the achievement of having spot Bitcoin ETF assets represented by every institution type in SEC’s 13F filings.

“Emory is now the 1st endowment to add a bitcoin ETF 2 its portfolio, completing the sweep of every institution type in SEC's 13F filings having a spot bitcoin ETF asset.”

Beyond endowments, the filings show that banks, insurance companies, financial advisors, pension funds, and holding companies have also entered the market. Balchunas also highlighted that trusts, family offices, venture capital firms, and brokerages have all acquired spot Bitcoin ETFs.

The ETF expert noted in a post on X that this level of adoption is “unprecedented” for an asset category that’s less than a year old. The SEC approved spot Bitcoin ETFs in January 2024, allowing global giants such as BlackRock and Fidelity to issue these exchange-traded funds.

“Unprecedented for an asset class to be fully represented by every single institution type by 15th month of existence. SEC approved spot bitcoin ETFs in January, allowing 1st movers like BlackRock and Fidelity 2 begin issuing these ETFs.”

An endowment is an investment portfolio aimed at charitable use by non-profit institutions, including universities, churches, and hospitals. While Emory University is the first endowment to purchase a Bitcoin ETF, pension funds have also been represented, including the State of Wisconsin.

The State of Wisconsin Investment Board revealed a $170 million spot Bitcoin ETF position in May. In August, it disclosed an additional 447k in shares of BlackRock’s IBIT.

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