Stanford Blyth Fund Allocates 7% of Portfolio to Bitcoin

According to CryptoPotato, the Stanford Blyth Fund, a student-run investment entity at Stanford University, purchased Bitcoin (BTC) at $45,000 in February after a scholar pitched the asset during a meeting. Kole Lee, a computer science major and leader at the Stanford Blockchain Club, revealed in a tweet that the Blyth Fund has allocated approximately 7% of its portfolio to Bitcoin following the purchase. Established in 1978 by an anonymous donor in honor of legendary banker Charles Blyth, the Blyth Fund manages a six-figure portion of Stanford University’s endowment through investments in assets like stocks and bonds. The fund supports education by giving students an opportunity to invest their money and channeling 25% of the investment returns to Stanford University’s financial aid. During Lee's pitch to the fund in February, he focused on crypto market cycles, exchange-traded fund (ETF) inflows, and a hedge against "monetary chaos and war." Lee suggested investing in the iShares Bitcoin ETF (IBIT) issued by BlackRock, the world's largest asset manager. The outcome of the pitch was a BTC purchase and a 7% portfolio allocation to the leading digital asset. The Blyth Fund's BTC purchase highlights the rising adoption of the relatively novel digital asset. The launch of spot Bitcoin ETFs in the United States has driven BTC adoption to unprecedented levels, allowing for the inflow of billions of dollars in capital from the traditional finance sector. Heavy ETF volumes and inflows have also driven the price of BTC to levels last seen in November 2021, during the last bull cycle. Data from CoinMarketCap shows BTC changed hands at $66,700 at the time of writing. Meanwhile, the ten ETFs witnessed their biggest trading volume day on March 5, recording roughly $10 billion, with IBIT alone responsible for the largest portion.

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