The University of Austin is making history by launching a pioneering Bitcoin investment fund, signaling the increasing institutional adoption of cryptocurrency in the United States.

The university plans to allocate over $5 million in Bitcoin as part of its $200 million endowment fund. Chun Lai, the foundation’s chief investment officer, emphasized the importance of staying ahead in the crypto space, stating, “We don’t want to be left behind when their [cryptocurrency’s] potential materializes dramatically,” as reported by the Financial Times on Feb. 9.

This move comes just months after Emory University disclosed a $15 million Bitcoin investment through Grayscale’s spot Bitcoin ETF, making it the first U.S. university endowment to hold Bitcoin ETFs.

The University of Austin is taking a long-term approach, aiming to hold Bitcoin for at least five years. Chad Thevenot, senior vice president for advancement, likened the investment to traditional assets like stocks and real estate, reinforcing the institution’s confidence in Bitcoin’s future value.

As institutional interest in Bitcoin continues to grow, analysts suggest that increased adoption of ETFs could significantly impact Bitcoin’s price, further legitimizing the asset class in mainstream finance.