Cryptocurrency investments on an institutional level are gaining pace, despite the belief by some that the market is about to implode. A few days ago, the Ivy League school, Yale University, decided to invest in a large, $400-million investment fund offered by Paradigm. Now, five more universities are putting their endowments to good use and have invested in other funds.

According to a report that first surfaced by media outlet The Information, Dartmouth College, Massachusetts Institute of Technology, Harvard University, Stanford University and the University of North Carolina are now crypto investors. Each has invested in at least one cryptocurrency fund by way of their school’s endowments.

A source who wasn’t unidentified by name told The Information that the schools have collectively invested tens of millions of dollars in the funds. The funds are used to buy equity stakes in various cryptocurrency companies, as well as to invest directly into digital assets.

According to a journalist with the news outlet, Jon Victor, “A move by endowments into funds that will directly bet on cryptocurrencies signals a major shift in investor sentiment toward the asset class, in the same way that institutions over the past decade became more willing to invest in private tech companies. Backing from such closely watched institutions could help validate cryptocurrencies, which are still considered too risky by many institutional investors.”

Many have predicted that institutional investments in cryptocurrency were coming. Mike Novogratz of Galaxy Digital said over the summer that big investments were coming, but added that they would only be facilitated following the introduction of companies such as Goldman Sachs into the space. Ari Paul, a former portfolio manager for the University of Chicago and current crypto fund manager, has also said that educational institutions would jump on board once schools like Yale stepped in – he was apparently correct.

Institutional investors are notoriously more pragmatic about any investments and more so about crypto investments, given the volatility associated with the markets. However, a survey that was recently conducted by the Wall Street strategy firm Fundstrat revealed that these investors, once they are into crypto, turn more optimistic about crypto’s prospects than do retail investors.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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