A growing number of U.S. colleges and universities are said to have included cryptocurrencies as a part of their endowment. This is a sign of increasing acceptance by institutional investors of the new digital-asset class.
Last week, Bloomberg reported that Yale joined a new digital asset fund called Paradigm, helping it to raise $400 million, according to an anonymous individual with knowledge of the matter. Yale is also reportedly invested in a $300 million crypto fund launched by Andreessen Horowitz.
More recently, a report by The Information added more institutions to this growing list. Citing a person who is familiar with the various endowments, “…Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology and the University of North Carolina have made investments into at least one cryptocurrency fund.”
In addition to endowment investments, the topic of blockchain and cryptocurrencies themselves have been growing across higher education. “Currently, 42 percent of the world’s top 50 universities offer students at least one course on cryptos or blockchain and 22 percent offer more than one. When including classes on cryptography, the number becomes 70 percent of top fifty universities offering courses on the subjects.”