Bitcoin ETF

Bitcoin

BlackRock

<p class="is-style-lead">Stanford University’s Blyth Fund has committed 7% of its portfolio to Bitcoin <a href="https://crypto.news/price/bitcoin/">(BTC)</a>. The endowment purchased BTC for $45,000 token. </p> 
<p>Stanford’s Blyth Fund, under the leadership of Computer Science Major Kole Lee, has embraced Bitcoin as a pivotal element of its diversified investment portfolio. This comes alongside BlackRock’s SEC filing to incorporate Bitcoin exposure, signalling a paradigm shift in institutional attitudes toward cryptocurrencies.</p> 
<p class="is-style-default">Stanford’s decision reflects the broader trend of institutional interest in digital assets, as <a href="https://crypto.news/blackrock-seeks-to-purchase-more-bitcoin-etfs/">BlackRock</a> moves to integrate Bitcoin into its $36.5 billion Strategic Income Opportunities Fund.</p> 
<p>Kole Lee’s persuasive pitch highlighted Bitcoin ETF inflows, the cyclical nature of the crypto market, and Bitcoin’s role as a hedge against economic uncertainties. This move by Stanford’s fund underscores a calculated approach to crypto adoption.</p> 
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   <p lang="en" dir="ltr">Stanford Endowment has bought Bitcoin at 45k.<br><br>In February, pitched IBIT to Blyth Fund, the student-run fund which manages a portion of Stanford's Endowment. <br><br>Bitcoin is now ~7% of the portfolio.<br><br>Here's the pitch that convinced them to buy: <a href="https://t.co/nE7PuNF7Nw" target="_blank">pic.twitter.com/nE7PuNF7Nw</a></p>— Kole Lee (@kolelee_) <a href="https://twitter.com/kolelee_/status/1764745867435921745?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 4, 2024</a>
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<p>Simultaneously, BlackRock’s <a href="https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/1738078/000119312524057885/d718346d497.htm" target="_blank" rel="noopener">filing</a> for Bitcoin exposure amplifies the broader institutional embrace of digital assets. Grayscale’s Bitcoin ETF reevaluation further adds weight to this trend, hinting at a potential bullish period for crypto investors.</p> 
<p>In 2021, <a href="https://tech.hindustantimes.com/tech/news/harvard-yale-and-brown-university-endowments-reportedly-buying-cryptocurrency-71611643930133.html" target="_blank" rel="noopener">reports</a> indicated discreet cryptocurrency purchases by Ivy League institutions, including the University of Michigan, Brown, Yale, and Harvard endowments. The use of platforms like Coinbase signifies a growing trend among prestigious universities to discreetly invest in digital assets, showcasing a broader institutional recognition of crypto’s potential.</p> 
<p>In September 2023, Stanford University <a href="https://crypto.news/stanford-university-to-return-millions-received-from-ftx/">revealed</a> plans to return funds received from the crypto trading company FTX and related entities. The move aligns with a lawsuit alleging a transfer of around $5.5 million to Stanford’s accounts, reflecting the evolving dynamics between traditional institutions and the crypto sector.</p> 
<p> You might also like: <a href="https://crypto.news/microstrategys-mstr-stock-jumps-23-as-it-unveils-600m-offering-to-buy-more-bitcoin/"> MicroStrategy’s MSTR stock jumps 23% as it unveils $600m offering to buy more Bitcoin </a> </p> 
<h2 class="wp-block-heading" id="bitcoin-s-btc-strong-bullish-momentum">Bitcoin’s (BTC) strong bullish momentum</h2> 
<p>Bitcoin’s recent surge, nearing its all-time high, is partly attributed to increased demand in spot Bitcoin ETFs. The SEC’s approval of spot Bitcoin ETFs in January paved the way for substantial <a href="https://crypto.news/spot-bitcoin-etfs-start-the-week-strong-attracting-562-million-in-inflows/">institutional investments</a>, with BlackRock and Fidelity leading the charge.</p> 
<p>These ETFs offer investors a less risky way to engage with Bitcoin, attracting billions of dollars in deposits. Unlike futures-based ETFs, spot ETFs are backed by actual BTCs and this contributes to the cryptocurrency’s price rally.</p> 
<p>Renowned author Robert Kiyosaki <a href="https://crypto.news/robert-kiyosaki-predicts-more-gains-for-bitcoin-btc/">foresees</a> a shake-up in the U.S. economy, predicting significant gains for Bitcoin and silver while anticipating a crash in gold below $1,200. His preference for tangible assets over traditional financial instruments aligns with the ongoing discourse about the role of cryptocurrencies in hedging against economic uncertainties.</p> 
<p>Contrasting Kiyosaki’s optimism, Prominent economist and gold advocate Peter Schiff has sounded a stark warning for investors engaged in the Bitcoin frenzy, particularly those betting on the cryptocurrency’s exchange-traded funds (ETFs). </p> 
<p>Schiff contends that the surge in Bitcoin’s price, recently reclaiming the $67,000 level amid heightened excitement around Bitcoin ETFs, may be signalling a looming reversal.&nbsp;</p> 
<p>In Schiff’s perspective, ETFs are essentially “the tail that wags the Bitcoin dog,” propelling its ascent but potentially triggering a downfall due to a supply and demand mismatch when investors decide to sell.&nbsp;</p> 
<p>Amid this Bitcoin mania, Schiff criticizes the media for diverting attention from gold’s breakout above $2,100, emphasizing that the cryptocurrency hype obscures the value of gold as a traditional safe-haven asset. He predicts that once the Bitcoin bubble bursts and attention returns to gold, retail investors will face substantially higher entry prices into the gold market.&nbsp;</p> 
<p>Schiff’s pessimistic forecast stands in stark contrast to the overall enthusiasm for Bitcoin. However, it is important to note that his past Bitcoin predictions have not aged well.</p> 
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<p>Additionally, the upcoming Bitcoin halving event, which has historically triggered decent price increases, continues to attract investors and analysts.</p> 
<p>The Bitcoin (BTC) price as of the time of writing is $66,154.25, representing an 18.86% surge in the past 7 days with a $1.29 trillion market cap, per data from <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener">CoinGecko</a>.</p> 
<p> Read more: <a href="https://crypto.news/app/uploads/2023/02/cryptonews-japan-880x525.jpg.webp"> Nomura launches Bitcoin adoption fund for institutional investors </a> </p>

Stanford University’s Blyth Fund buys Bitcoin (BTC)

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