"The latest move by the endowment managers means that this is the third consecutive quarter that the value of Harvard's crypto holdings has declined. The high water mark came in Q3 of 2025, when the university endowment reported $442 million in Bitcoin ETF holdings. That made Bitcoin the most valuable public equity Harvard held, but the university has since trimmed its Bitcoin holdings, and Bitcoin's price has fallen."
"In its latest regulatory flings, Harvard's endowment reported $117 million in shares of BlackRock's IBIT Bitcoin ETF after selling 2.3 million shares since the prior quarter. Harvard is in a league of its own when it comes to university investments owning crypto equities. The university is a significant institutional holder of Bitcoin, although its holdings are dwarfed by banks and sovereign wealth funds."
""Most people seem to be giving this a couple years," Balchunas said. "For Harvard, they own a bunch of other stocks, and stocks have done really well, so it might make it easier to absorb the losses in [Bitcoin], and sort of keep their position for a while hoping it comes back, which it did a little in the last month.""
"The endowment was also the largest new buyer of BlackRock's Ethereum ETF in Q4 of 2025, according to Bloomberg analyst James Seyffart. Ethereum is the second-largest cryptocurrency by market cap, and u"
Harvard’s endowment reduced its Bitcoin ETF exposure and added Ethereum ETF shares earlier, but later disclosures show further trimming of Bitcoin and complete removal of Ethereum holdings. The latest filings indicate the third consecutive quarter in which the value of crypto holdings declined. Bitcoin ETF holdings peaked in Q3 2025 at $442 million, after which Harvard sold down its position as Bitcoin’s price fell. In the most recent quarter, Harvard reported $117 million in BlackRock’s IBIT Bitcoin ETF shares after selling 2.3 million shares. Harvard remains a major institutional holder of Bitcoin ETFs, though smaller than banks and sovereign wealth funds. ETF inflows have stayed relatively resilient despite market weakness.
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