Institutions Enter BTC Market Successively, According to Cointelegraph’s report, Stanford University’s Blyth Fund has allocated 7% of its investment portfolio to Bitcoin, with a cost price of approximately $45,000. In addition, BlackRock has also applied to include Bitcoin risk in its Strategic Income Opportunities Fund (BSIIX).
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Stanford University’s Blyth Fund Invests in Bitcoin
BlackRock Includes Bitcoin in its Strategic Income Opportunities Fund (BSIIX)
The Charles R. Blyth Fund is a student-run investment fund and student organization at Stanford University. Since 1978, the Blyth Fund has managed around $170,000 of stocks, bonds, and other assets from donations to Stanford University. The fund’s purpose is to provide practical investment experience to Stanford University students interested in finance and is open to all members who demonstrate continued participation and investment enthusiasm.
According to the report, Kole Lee, the leader of Stanford University’s Blockchain Club, recommended BlackRock’s Bitcoin spot ETF, IBIT, to the Blyth Fund in February. Subsequently, the Blyth Fund allocated 7% of its investment portfolio to the Bitcoin ETF, with a Bitcoin cost price of approximately $45,000.
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Asset management company BlackRock also submitted an amendment to the U.S. Securities and Exchange Commission (SEC) on March 4, including Bitcoin risk in its Strategic Income Opportunities Fund (BSIIX), which has a size of up to $36.5 billion. The document states:
“This Fund may invest in bitcoin exchange-traded products (ETPs) to reflect the performance of bitcoin prices, including bitcoin ETPs issued by BlackRock.”
BlackRock’s IBIT is the best-performing among the nine newly launched Bitcoin spot ETFs, with assets under management exceeding $12.4 billion, surpassing the largest silver ETF (SLV) and ranking third among commodity ETFs.
(Bitcoin ETFs See Net Outflows Again, IBIT’s Assets Exceed $10 Billion, Surpassing Silver ETF)
BSIIX
Charles R. Blyth Fund
IBIT
BlackRock
Further reading:
ETH Surpasses $3,700, SEC Delays BlackRock Ethereum ETF Again
BTC Reaches $68,000, Bitcoin ETF Trading Volume Hits a New High, Asset Size Exceeds 50% of Gold ETF.