Fred Ehrsam is the co-founder of Coinbase and a graduate of Duke University. In the early rounds of investment for Coinbase, Fred approached Duke University. The exact amount that Duke University invested in Coinbase is unknown, but according to a VC veteran, Duke probably invested in the 2015 Series C round.
Ivy League colleges like Harvard and Yale have been buying cryptocurrency within the past year. As university endowments have a long-term horizon, it's not unusual for early investments in startups.
With Coinbase nearing an IPO and the momentum in cryptocurrency, will other universities consider investing in cryptocurrency.
We shall find out very soon.