US universities start to invest in crypto

US universities start to invest in crypto
US universities start to invest in crypto

Some universities on the East Coast of the United States are beginning to invest in cryptocurrencies, said the founder of the Capital Fund Law Group.

John Lore, the founder of the Capital Fund Law Group, specializing in the provision of legal services for hedge funds, in an interview with Business Insider said:

“We’re seeing some academic institutions getting involved on a limited basis for strategic reasons.

I can’t say the names of [the academic institutions] because that’s attorney-client but we have people mostly on the East Coast that have begun doing investments in this space on a fairly modest basis.”

New York law firm Capital Fund Law Group provides legal services for the hedge fund industry, and among its clients last year there were about 30 cryptocurrency funds, the founder of the company said.

Lor also stressed that most of the investment in new funds come from “the owners of large capital and from the owners of the family business – in limited quantities.”

In his view, institutional investors, such as pension funds, will not begin investing in cryptocurrencies soon, due to the uncertainty of the legal status of such investments and the lack of experience of many of the represented funds. Exceptions are university trust funds or other trust funds, Lor reports.

Universities have long shown an interest in cryptocurrencies and the blockchain technology behind them. The authors of a study published in May by the National University of Ireland (NUI Galway) on taking blockchain in the country, call on the government to actively promote the technology. In March, it became known that the University of Oxford will work on blockchain-development together with VeChain.

At the same time, leading universities have long offered courses that focus on cryptocurrencies and blockchain technologies, and students of educational programs are not far behind: in April, students at Harvard University announced the launch of their own hedge fund Plympton Capital.

Source – http://www.businessinsider.com/universities-invest-cryptocurrency-2018-6