Bitcoin ETF Adoption Speeds Ahead: All Major Institutional Types, Including Emory University, Now Invested

The US Spot Bitcoin exchange-traded funds (ETFs) are going from strength to strength. The funds, which are now close to holding 1 million Bitcoin, have just reached another milestone.

According to Eric Balchunas, Senior ETF Analyst at Bloomberg, Emory University has disclosed a US$15.8 million (AU$24 million) investment in a Bitcoin ETF. This is the first endowment to do so and completes the representation of all institutional types in Bitcoin ETF filings.

As per Balchunas, the long list now includes endowments, banks, hedge funds, insurance companies, advisors, pension funds, private equity, holding companies, venture capital firms, trusts, family offices, and brokerages.

As reported previously, these institutional investors make up around 20% of all Spot Bitcoin ETF investors, with the majority still being retail holders.

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Balchunas compared the fund’s success and the rate of adoption to winning all four grand slams before even turning 16.

Adoption Only Beginning, Say Analysts

According to data from The Block and BiTBO, the funds are now just 25,000 Bitcoin away from holding one million, sitting at 975,186 BTC or 4.644% of total supply. 

Nate Geraci from The ETF Store says that many didn’t believe the funds would pull off such enormous numbers in such a short time.

And that is despite “no Vanguard access & many of the major wirehouse platforms still gated”, he added.  

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Bitcoin commentator Anthony Pompliano says that corporations are just starting to realise what Bitcoin can do for them.

Bitcoin had done an excellent job preserving the purchasing power of individuals.

Corporations are beginning to realize the asset can do the same thing for them.

Just wait till central banks start to realize as well.

I explain how it works to @Varneyco this morning. pic.twitter.com/9eKkpKDXyy

— Anthony Pompliano 🌪 (@APompliano) October 28, 2024

Speaking to Fox, Pomp highlights how Bitcoin has effectively preserved individual purchasing power, and corporations are starting to recognise its potential for them as well. The anticipation grows for when central banks will also realise this benefit, as per Pomp.