An investment fund that manages part of Stanford University's endowment has invested up to 7% of its portfolio in Bitcoin BTCUSD Investments.
On March 5, Kole Lee, a computer science student and leader of the Stanford Blockchain Club, announced that the university's student-run Blyth Fund had invested about 7% of its portfolio in Bitcoin following its pitch for the fund in February.
“Stanford Endowment bought Bitcoin for $45,000,” he said, adding that he offered BlackRock’s IBIT ETF to the Blyth Fund.
His arguments, “trying to remain as objectively optimistic as possible while appealing to an audience of skeptics,” revolved around three key factors: ETF inflows, crypto market cycles and a hedge against “monetary chaos and war,” he said. 
Cointelegraph
The student-run fund, founded in 1978 in honor of legendary banker Charles Blyth, manages a six-figure portion of Stanford's endowment by investing in stocks, bonds and other assets, which now includes BTC.
Lee told Cointelegraph that the Blyth Fund is a student-run investment club “committed to ensuring that its members invest within their skills and passions,” before adding:
“The Blyth funds are separately managed funds that are part of the expandable fund pool and give students freedom in their investment decisions. So I thought the ETF would be a wonderful opportunity for Blyth to buy Bitcoin.”
Lee speculated that if the all-time high of $69,000 is broken, “billions of shorts will be covered and people will get excited about ATHs, encouraging a volatile upward move.”
BlackRock wants BTC exposure in $36.5 billion high-yield fund
Meanwhile, asset manager BlackRock filed an amendment with the Securities and Exchange Commission on March 4 to include Bitcoin exposure in its Strategic Income Opportunities Fund (BSIIX).
It explained that it can acquire shares in funds that are directly dependent on the BTC price.
“The Fund may acquire shares of exchange-traded products (“ETPs”) designed to reflect general movements in the price of Bitcoin by directly holding Bitcoin (“Bitcoin ETPs”), including shares of a Bitcoin ETP issued by a subsidiary is sponsored by BlackRock.”
According to BlackRock, the SIO pension fund currently manages assets worth $36.5 billion.
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