The world’s largest endowment also bought 1 million shares of Amazon, despite cutting back sharply on Alphabet, Meta and Microsoft.
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.
The appointment comes just as the firm prepares to launch its first ETF on the Australian Securities Exchange.
The exchange-traded fund tracks the performance of the J.P. Morgan Saudi Arabia Aggregate Index.
By measuring employee morale and other people-centered influences on share prices, fledgling ETFs have beaten benchmarks—and attracted a large SWIB position.
Buying the bonds now is a good arb play amid talk of lower rates in 2024, the firm believes.
