A portion of Stanford University’s endowment is being managed by an investment fund that has allocated up to 7% of its portfolio to Bitcoin investments. The decision was announced by Kole Lee, a computer science major and leader at the Stanford Blockchain Club. He stated that the university’s student-run Blyth Fund made the allocation following his pitch in February. Lee’s arguments for the investment revolved around ETF inflows, crypto market cycles, and using Bitcoin as a hedge against monetary chaos and war. The Blyth Fund, established in 1978, manages a significant portion of Stanford’s Endowment and now includes BTC investments. Lee believes that once Bitcoin breaks its all-time high of $69,000, there will be a significant upward movement as billions of shorts are covered and excitement builds. In related news, BlackRock has filed an amendment to incorporate Bitcoin exposure in its Strategic Income Opportunities Fund. The asset manager stated that it may purchase shares in funds that have direct exposure to the price of BTC. BlackRock’s SIO fund currently has $36.5 billion in assets under management.
Bitcoin receives 7% share in Stanford's Blyth Fund's investment portfolio
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