Will Yale’s Investment in Crypto Lead to More Institutional Investors?
This week, CCN reported that Yale, the prestigious Connecticut-based academic institution, has invested in a $400 million crypto fund operated by veterans in the digital asset and finance space.
Coinbase Inc. co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and billion dollar crypto hedge fund Pantera Capital ex-employee Charles Noyes reportedly launched a new cryptocurrency hedge fund called Paradigm after raising more than $400 million from various investors.
The $30 billion endowment in Yale is led by David Swensen, who invested an undisclosed amount in Paradigm, following the establishment of the institution’s vision to allocate 60 percent of its assets in alternative assets by the end of 2019, like crypto.
Why is Yale’s Move to Crypto Significant?
Yale and Swensen operate one of the largest college endowments in the global market. For three decades, the Yale endowment has outperformed every academic institution within the US, allowing Swensen to beCOME the most-watched and influential figure in the market of institutional investors.
In June, billionaire investor told Erik Schatzker at the Bloomberg Invest Summit in New York that the entrance of a major institutional investor into the crypto market will lead to other major firms accumulating cryptocurrencies like Bitcoin and Ethereum at a large scale.
https://www.ccn.com/will-yales-investment-in-crypto-lead-to-more-institutional-investors/