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Cryptocurrency hedge funds to entice universities’ investments
The universities across the US are keen on investing their money into Cryptocurrency Avenue for their endowment funds (especially hedge funds). Likewise, their students, one-third of whom are huge fans of cryptocurrencies than of traditional methods, such as, shares, bonds etc.
Ripple announced the launch of University Blockchain Research Initiative, a $50 million fund that will support 17 universities in their Blockchain research programs. The fund has been created in partnership with 17 reputable universities from across the world including Princeton, the Massachusetts Institute of Technology (MIT), University College London, the Australian National University, and higher education institutions in Brazil, India, Netherlands, South Korea, Cyprus, and Luxembourg.
Under the new project, the universities will be able to use financial resources from the fund called University Blockchain Research Initiative (UBRI).
John Lore, founder of Capital Fund Law Group said, “We’re seeing some academic institutions getting involved on a limited basis for strategic reasons. I can’t say the names of (the universities) because that’s attorney-client [privilege], but we have people mostly on the East Coast that have begun doing investments in this space on a fairly modest basis.”
The New York legal firm specializes mostly in equity law services for hedge funds, real estate funds, and private equity funds. It more recently started specializing in cryptocurrency hedge funds, with over 30 clients in this area and even providing an online portal for consulting those who want to start their own.
Lore claims that most of the investment into these hedge funds come from individuals with lots of capital to swing around.
“Yes there are investors but at this point, investors are putting in very small percentages of their net worth as we would expect and as I believe is appropriate,” he added.
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