Thursday Nov 13 2025 11:40
2 min
Emory University, a private research institution located in the US state of Georgia, has demonstrated a strengthened commitment to Bitcoin by significantly increasing its investment in the Grayscale Bitcoin Mini Trust ETF. According to their latest quarterly Form 13F filing with the Securities and Exchange Commission (SEC), Emory now holds over 1 million shares of the ETF, an investment valued at approximately $51.8 million.
Since the second quarter, the university has effectively doubled its position in the Bitcoin ETF, acquiring an additional 487,636 shares worth around $25 million. Emory initially reported its holdings in a Bitcoin ETF in October 2024, becoming one of the first US universities to publicly disclose such an investment. At that time, they revealed a $15 million stake in the Grayscale Bitcoin Mini Trust ETF.
The Grayscale Bitcoin Mini Trust ETF, trading under the ticker symbol BTC, was launched in July 2024 as a spin-off from Grayscale's original Bitcoin Trust ETF (GBTC), which commenced trading in January 2024. While the original GBTC ETF carries a 1.5% annual management fee, the Mini Trust ETF is positioned as Grayscale’s more cost-effective option with a lower fee of 0.15%. The launch of the Mini Trust ETF involved the distribution of 10% of GBTC's underlying Bitcoin to seed the new fund.
In addition to the approximately $52 million invested in Grayscale's Bitcoin Mini Trust ETF, Emory University also maintains a position of 4,450 shares in BlackRock's iShares Bitcoin ETF (IBIT), which is valued at around $290,000. The university initially disclosed its IBIT investment in the second quarter and has not made any changes to this holding since then.
Grayscale’s Bitcoin ETFs have experienced significant investor outflows compared to other BTC ETFs, losing over $21.3 billion in 2024, as reported by CoinShares in January. Conversely, BlackRock’s iShares Bitcoin ETFs have accounted for a substantial portion, estimated at around 80%, of total Bitcoin ETF inflows last year, amounting to approximately $48.7 billion.
Data from CoinShares indicates that in 2025, Grayscale’s Bitcoin ETFs have seen $2.5 billion in outflows, whereas iShares Bitcoin ETFs have attracted $37.4 billion in inflows.
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