Brown University Discloses $4.9M Position in BlackRock's Bitcoin ETF
According to a new SEC 13F filing, Brown University, a private university based in Providence, Rhode Island, revealed a large position in BlackRock's spot Bitcoin ETF (IBIT). Market analyst MacroScope first reported the news, noting that Brown held 105,000 shares of IBIT as of March 31, 2025, valued at $4,915,050. This makes the school the third U.S. university to publicly announce a Bitcoin purchase after Emory University and the University of Austin (UATX), according to VanEck's Matthew Siegel.
MacroScope posted on X: 'In a 13F filing this morning, Brown University reported owning 105,000 shares of the IBIT Bitcoin ETF as of March 31, valued at $4.9 million. This is a new position, which means it was acquired in January, February or March. The total value of all 14 positions in the filing is $216 million. This is an important one.' Brown's move signals growing confidence among U.S. universities in Bitcoin's long-term potential, as they add digital assets to their endowment portfolios.
Pioneering Universities: Emory and University of Austin
Emory University was the first to disclose Bitcoin holdings, revealed in an October 25 SEC filing that it owned nearly 2.7 million shares of the Grayscale Bitcoin Mini Trust ETF, initially worth $15.1 million. With Bitcoin reaching all-time highs since purchase, Emory's holdings may now exceed $21 million. Emory Investment Management (EIM) CIO Srinivas Pulavarti noted that the ETF conversion led to the public disclosure of their position.
In May 2024, the University of Austin (UATX) gained Bitcoin exposure by partnering with Bitcoin financial services firm Unchained to raise $5 million in Bitcoin for its endowment. 'I've seen the values the organization places on free speech and on building a modern academic institution… and I'm thrilled to play a role in helping the university make bitcoin a part of its long term strategy,' stated Unchained CEO Joseph Kelly, who donated 2 BTC to the campaign. Incoming Associate Professor Thomas Hogan added: 'University endowments are about serving students. And bitcoin provides a unique opportunity for advancing UATX's commitment to cultivating future generations of leaders and innovators.'
Why Universities Choose Bitcoin ETFs Over Direct Holdings
Emory's Associate Professor of Accounting Matthew Lyle explained the appeal of ETFs versus direct Bitcoin ownership: 'There are some risks with doing it yourself. Whereas if you use a company like Grayscale or BlackRock to do it for you… it's unlikely that they're going to steal your money because they're well known.' By investing through regulated ETF issuers, universities avoid the operational complexities of self-custody, private key management, and security risks, while still benefiting from Bitcoin's price appreciation. The trend of university endowments embracing Bitcoin ETFs underscores the growing institutional acceptance of cryptocurrency as a legitimate asset class.