Institutions Continuously Enter BTC Market, Stanford University’s Blyth Fund and BlackRock Join In
Institutions are entering BTC one after another, 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 applied to include Bitcoin exposure in its strategic income opportunity fund (BSIIX).
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Stanford University’s Blyth Fund also invests in Bitcoin
BlackRock includes Bitcoin in its strategic income opportunity 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 approximately $170,000 of stocks, bonds, and other assets from Stanford University’s endowment fund. 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 ongoing participation and investment enthusiasm.
According to reports, 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 4th, incorporating Bitcoin exposure into its strategic income opportunity fund (BSIIX). The fund has a size of up to $36.5 billion. The document states:
“This fund may purchase exchange-traded products (ETPs) that reflect the performance of Bitcoin prices, including Bitcoin ETPs issued by BlackRock.”
BlackRock’s IBIT is among the top-performing newly launched nine Bitcoin spot ETFs, with assets under management exceeding $12.4 billion, surpassing the largest silver ETF (SLV), ranking third among commodity ETFs.
(Bitcoin ETF outflows again, IBIT assets exceed $10 billion and surpass silver ETF)
BSIIX
Charles R. Blyth Fund
IBIT
BlackRock
Further reading:
ETH reaches $3,700, SEC further delays BlackRock Ethereum ETF
BTC touches $68,000, Bitcoin ETF trading volume hits record high, assets surpass gold ETF by 50%
