"Crypto investments are still prominent in Harvard's endowment, as filings show that the university has purchased Ethereum. The Ivy League school bought about $87 million in BlackRock's iShares Ethereum Trust (ETHA), according to filings with the Securities and Exchange Commission released on Friday. The purchase coincided with a decision by Harvard sell 21% of its holdings of the iShares Bitcoin Trust (IBIT). The value of the sold Bitcoin amounted to around $72 million based on an end-of-year closing price for IBIT of $49.65 per share."
"The transactions, which were disclosed in regulatory filings cited by multiple news outlets, come as the crypto sector is in a prolonged downturn. Eric Balchunas, an analyst at Bloomberg Intelligence said the sales come as a welcome bit of good news for the crypto industry. "It's a good sign for issuers if they can sell to Harvard, and an even better sign if Harvard doesn't flinch during a nasty drawdown," he said."
Harvard purchased about $87 million in BlackRock's iShares Ethereum Trust (ETHA) and sold 21% of its holdings in the iShares Bitcoin Trust (IBIT), representing roughly $72 million based on an end-of-year IBIT closing price of $49.65 per share. The transactions were disclosed in regulatory filings amid a prolonged crypto downturn. Bloomberg Intelligence analyst Eric Balchunas said sales to Harvard are a positive signal for issuers and for Harvard if it holds during drawdowns. Harvard holds over $350 million in crypto ETFs, which represents less than 1% of its $57 billion endowment. Other elite universities also hold Bitcoin and Ethereum ETFs.
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