Harvard University has reportedly invested $120 million in BlackRock's spot Bitcoin ETF (IBIT), according to Unfolded. This significant investment signals growing institutional interest in cryptocurrency. Brown University also disclosed a $13 million holding in IBIT. Bloomberg ETF analyst Eric Balchunas highlighted the unusual nature of these investments, stating that universities rarely use endowments to purchase ETFs, especially those tied to volatile assets like Bitcoin. This move by Harvard and Brown could pave the way for other educational institutions and large endowments to consider Bitcoin ETFs as part of their investment portfolios, potentially driving further adoption and legitimizing Bitcoin as an asset class. The rationale behind these investments likely involves a long-term view on Bitcoin's potential and a desire to diversify endowment holdings. ```

#BTC #ETF