US gifts increase their exposure to crypto as digital assets rise to new heights, the Financial Times reported on Sunday.
Franklin BI, a general partner in Pantera Capital, noted that there had been a “huge shift” in interest in digital assets from endowments and foundations that had only five years ago reported “minimal participation” in Krypto, the report said. Panttera Capital did not respond to Coindesk’s comment request.
Bitcoin (BTC), the largest cryptocurrency, has risen to about $ 97,900 from around $ 7,000 by 2020. As the price has reached new heights thanks to the introduction of Bitcoin Exchange-Traded Funds (ETFs) and the choice of crypto-friendly US President Donald Trump, institutions have begun to fear missing out on.
Emory University, based in Georgia, revealed in October that it had millions worth of Grayscales Bitcoin ETF. In May, the University of Austin announced that it is raising a Bitcoin fund of $ 5 million to contribute to its $ 200 million endowment and Rockefeller Foundation of $ 4.8 billion is investigating whether it will increase its exposure to crypto. The fund invested in Crypto Venture Funds in 2023.
“We do not want to be left behind when their potential is dramatically materialized,” Chun Lai, the foundation’s main investment manager, told FT. The Rockefeller Foundation did not respond to Coindesk’s comment request.
