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Academic Institutions Leading Others In Investing Into Cryptocurrency

The cryptocurrency sphere has seen little to no response from institutions, as they are unwilling to invest their funds into cryptocurrency because of the inherent deficiencies. An institutional fund has been described as the main catalyst that will aid the full growth of cryptocurrency. The recent venture of academic institutions into space is set to aid the revolution.
Recent romance of top universities with the cryptocurrency space signals the journey of institutions into cryptocurrency space; fulfillment of a long awaiting dream of most cryptocurrency enthusiasts.
Universities that have ventured into space already include Dartmouth College, Stanford University, Harvard University, Massachusetts Institute of Technology, and the University of North Carolina. Their choice of investing in cryptocurrency is a change of trajectory of the popular stance of institutions to cryptocurrency.
The revelation of an unnamed source showed that these institutions had invested tens of millions of dollars into crypto funds through their endowment. Apart from these universities on October 8 Yale University also invested in two cryptocurrency funds, Paradigm, and a16z.
Since the venture of the academic institutions into the cryptocurrency space is still nascent in the crypto market, their exposure to the crypto asset is still low.
The publication noted that a move into funds would directly bet on cryptocurrencies, show a shift in investor sentiment toward the asset class. This shows the same way institutions have been interested in investing in private tech companies over the past decades. Also, the support from such type of closely watched institutions could help to validate cryptocurrencies which are still considered to be risky by many institutional investors.
Cryptocurrency space has been noted to be deficient of appropriate, efficient crypto service providers. Vitalik Buterin, the founder of Ethereum, noted recently that the blockchain industry needs to work towards making blockchain products more efficient and usable for cryptocurrency users.
As stated by Vitalik Buterin, efforts have been underway in recent months by companies such as Coinbase Intercontinental Exchange (ICE) focusing on different crypto-related products.
Efforts toward making the industry more comfortable for institutional investors have seen the provision of institutional-grade services, such Bakkt being developed by ICE to change the industry.
Institutional fund and the expected cryptocurrency bullish trend are to work together according to the projection of most cryptocurrency enthusiasts. Though the market is experiencing a bearish trend, for now, it is a testament that a bullish trend is in the offing.

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