The $57 billion endowment slashed its holdings in Amazon, Microsoft, Bitcoin and Nvidia, while raising its stakes in Alphabet and Taiwan Semiconductor.
U.S. corporate debt and stocks, along with gold, are among the least attractive assets for managers over the next five years, according to Nickel Digital Management.
The firms’ offerings made up 85% of all crypto AUM, while separate research found 75% of investors expect cryptocurrency to soon become part of institutional allocations.
Regulators are making it easier to tokenize assets, but market structure will have to evolve to support widespread adoption.
