American endowment funds increase their exposure to crypto as digital assets go up to new heights, the Financial Times reported on Sunday.
Franklin Bi, a general partner of Pantera Capital, noted that there had been a “huge change” in the interest for the digital assets of endowments and foundations that barely five years ago had pointed out “participation minimal ”at the crypto, according to the report. Pantera Capital did not respond to the request for comments from Coindesk.
Bitcoin (BTC), The Large Cryptocurrency, has soared to about $ 97,900 from around $ 7,000 in 2020. As its price has reached new heights Thanks to the Introduction of Bitcoin Exchange-Traded Funds (Etfs) and the Election of Crypto-Friendly Us President Donald Trump, the institutions have started to fear missing.
The Emory University, based in Georgia, revealed in October that it had millions of people Bitcoin ETF de Graycale. The University of Austin announced in May, it collects a Bitcoin fund of $ 5 million to contribute to its allocation of $ 200 million and the Rockefeller Foundation of $ 4.8 billion explores whether or not to increase His exhibition at the crypto. The foundation invested in venture capital funds in crypto in 2023.
“We do not want to be left behind when their potential materializes considerably,” said Chun Lai, director of investments at the Foundation, at the FT. The Rockefeller Foundation did not respond to the request for Coindesk comments.
