U.S. university expands exposure to Grayscale’s Bitcoin Mini Trust amid growing institutional interest in crypto ETFs
Emory University has significantly deepened its position in Grayscale’s Bitcoin Mini Trust ETF, raising its total holdings to over $51.8 million, according to the latest filing with the U.S. Securities and Exchange Commission (SEC). The move reflects a continued wave of institutional adoption of digital assets through regulated exchange-traded funds.
The university’s latest Form 13F report, submitted for the third quarter of 2025, revealed that Emory now holds more than 1 million shares of Grayscale’s Bitcoin Mini Trust ETF — an increase of 245% from its initial $15 million investment reported in late 2024. The institution added 487,636 shares valued at roughly $25 million during the quarter, demonstrating a strong conviction in Bitcoin’s long-term potential.
The Grayscale Bitcoin Mini Trust ETF, launched in July 2024, trades under the ticker BTC and is designed as a lower-cost alternative to the firm’s flagship Bitcoin Trust ETF (GBTC). The Mini Trust carries an annual management fee of 0.15%, compared with GBTC’s 1.5%, positioning it as Grayscale’s most cost-efficient spot Bitcoin product.
“Large endowments are increasingly comfortable treating Bitcoin as a strategic asset,” said one crypto-fund analyst. “A move like this from a respected institution underlines that digital assets are becoming part of mainstream investment frameworks.”
Emory’s portfolio also includes 4,450 shares of BlackRock’s iShares Bitcoin ETF (IBIT), valued at about $290,000, with no additional changes since the previous quarter.
Despite the university’s expansion, Grayscale’s Bitcoin ETFs have seen over $21 billion in outflows since early 2024, according to CoinShares data. Meanwhile, BlackRock’s iShares Bitcoin funds captured nearly 80% of all inflows during the same period, drawing more than $48 billion in new capital.
Analysts suggest Emory’s increased exposure reflects confidence in a long-term recovery of institutional Bitcoin demand, particularly as spot ETF products continue to mature within the U.S. regulatory landscape.
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