Unchained, a Bitcoin financial services firm in Austin, Texas, has partnered with the University of Austin (UATX) to create a pioneering long-term endowment fund in Bitcoin. The goal is to raise $5 million to be invested in Bitcoin for at least five years, marking the first such endowment fund in cryptocurrency.

Key Highlights:

1. Fundraising and Investment:
- The fund aims to raise $5 million, to be held in Bitcoin for a minimum of five years.
- Unchained’s CEO, Joseph Kelly, kickstarted the fund with a personal donation of 2 BTC (around $137,000).

2. Security Measures:
- Unchained will provide a secure collaborative custody vault to safeguard the Bitcoin endowment.

3. Community Engagement:
- The initiative will involve joint marketing campaigns, events, guest lectures, and debates to educate the public about Bitcoin's potential in finance and education.

4. Precedent and Inspiration:
- UATX’s move sets a precedent for other academic institutions to explore alternative financial models.
- While UATX is the first to establish a Bitcoin endowment, other universities like Stanford, Harvard, Yale, and MIT have also ventured into cryptocurrency investments.

5. Hedge Fund Participation:
- Thirteen of the top 25 U.S. hedge funds have invested in spot Bitcoin ETFs.
- Notable investments include Point72 with $77.5 million in Fidelity's Bitcoin fund, and Millennium Management with approximately $2 billion.

This collaboration between Unchained and UATX aims to integrate Bitcoin into higher education finance, promote innovative financial strategies, and challenge traditional financial norms.