US foundations and university endowments are ramping up their exposure to cryptocurrencies to join the digital assets rush prompted by President Donald Trump’s promise to make the nation the world’s “bitcoin superpower”.
Crypto has far outperformed other asset classes over the past five years despite its high volatility, with many who have stood on the sidelines now jumping in for fear of missing out on the runaway price jumps.
The one-year-old University of Austin is raising a $5mn bitcoin fund, the first of its kind among the country’s endowments and foundations, for its $200mn endowment.
In October, Emory University in Georgia became the first college endowment to disclose holdings of bitcoin exchange traded funds. The $4.8bn Rockefeller Foundation is considering increasing exposure to cryptocurrencies if their user base becomes more diversified after investing in crypto venture funds two years ago, according to its chief…
