Bitcoin ETF

Bitcoin

BlackRock

An investment fund that manages a portion of Stanford University’s endowment has as much as 7% of its portfolio dedicated to Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) investments.
On March 5, computer science major and leader at the Stanford Blockchain Club Kole Lee&nbsp;<a href="https://twitter.com/kolelee_/status/1764745867435921745" target="_blank" rel="noopener nofollow">announced</a> that the university’s student-run Blyth Fund allocated around 7% of the portfolio to BTC following his pitch to the fund in February.&nbsp;
“Stanford Endowment has bought Bitcoin at $45,000,” he said before adding that he pitched BlackRock’s IBIT exchange-traded fund (ETF) to the Blyth Fund. 
His arguments, “which tried to remain as objectively bullish as possible while catering to an audience of skeptics,” revolved around three key factors: ETF inflows, crypto market cycles and a hedge against “monetary chaos and war,” he said. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-03/35e6dfa3-3230-402f-9afd-bd4edacc852e.jpg" alt="" title="">
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 Bitcoin pitch for Stanford Blyth Fund. Source: <a href="https://twitter.com/kolelee_/status/1764745867435921745" target="_blank" rel="noopener nofollow">@kolelee_ on X</a>
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The student-run fund, established in 1978 in honor of legendary banker Charles Blyth, manages a six-figure portion of Stanford’s Endowment by investing in stocks, bonds and other assets, which now include BTC.
Lee told Cointelegraph that the Blyth Fund is a student-run investment club “committed to their members investing within their skill sets and passions” before adding:
<blockquote data-ct-non-breakable="true">
 “The Blyth Funds are separately managed funds that are part of the expandable fund pool and give discretion in investing decisions to students. Thus, I thought the ETF was a wonderful opportunity for Blyth to buy Bitcoin.”
</blockquote>
Lee speculated that when the all-time high of $69,000 is broken, “billions of shorts will be covered, and people will become excited at ATHs, enhancing a volatile move to the upside.”
<h2 id="blackrock-wants-btc-exposure-in-36-5b-high-yield-fund">BlackRock wants BTC exposure in $36.5B high-yield fund</h2>
Meanwhile, asset manager BlackRock filed an <a href="https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/1738078/000119312524057885/d718346d497.htm" target="_blank" rel="noopener nofollow">amendment</a> with the United States Securities and Exchange Commission on March 4 to incorporate Bitcoin exposure in its Strategic Income Opportunities Fund (BSIIX).
It stated that it may purchase shares in funds that have direct exposure to the price of BTC. 
<blockquote data-ct-non-breakable="true">
 “The Fund may acquire shares in exchange-traded products (“ETPs”) that seek to reflect generally the performance of the price of Bitcoin by directly holding Bitcoin (“Bitcoin ETPs”), including shares of a Bitcoin ETP sponsored by an affiliate of BlackRock.”
</blockquote>
The fixed-income SIO fund currently has $36.5 billion in assets under management, <a href="https://www.blackrock.com/us/individual/products/227660/blackrock-strategic-income-opportunitiesinst-cl-fund" target="_blank" rel="noopener nofollow">according</a> to BlackRock. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-03/a95e2083-a676-435a-983c-d20a1084ccf5.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 Screenshot from BlackRock filing. Source: SEC
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Related: <a href="https://cointelegraph.com/news/grayscale-gbtc-bitcoin-fallen-33-percent-since-etf-conversion">Grayscale’s GBTC Bitcoin holdings have fallen 33% since its conversion</a>
The firm’s recently launched spot <a href="https://cointelegraph.com/learn/bitcoin-etfs-a-beginners-guide-to-exchange-traded-funds">Bitcoin ETF</a>,&nbsp;IBIT, is the best-performing of the newly launched batch of 10 funds. This week, it surpassed $11 billion in assets under management and had an inflow of $420 million on March 4. 
Magazine: <a href="https://cointelegraph.com/magazine/crypto-inevitable-all-in-meet-vance-spencer/">‘Crypto is inevitable’ so we went ‘all in’: Meet Vance Spencer, permabull</a>

Stanford’s Blyth Fund allocates 7% of its portfolio to Bitcoin

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