Bitcoin ETF Becomes Dominant Asset in Harvard’s Portfolio

As of the end of the third quarter, Harvard University’s treasury held 6.81 million shares of BlackRock’s Bitcoin exchange-traded fund (IBIT), valued at $442.88 million. This is according to a report for the SEC.


This position has become the largest in the educational institution’s portfolio, accounting for about 20% of its current volume.
At the end of June, Harvard held IBIT shares worth $116 million. Over three months, reserves increased by 280%.
The second-largest position in the treasury is now Microsoft securities at $322.8 million, followed by Amazon ($235.18 million) and SPDR Gold Trust ($235.1 million).
Bloomberg analyst Eric Balchunas noted the unusual investment direction for American universities.

“It’s extremely rare and difficult to get an endowment to join an ETF, especially Harvard or Yale. It’s the best endorsement an exchange-traded product can get,” he noted.

According to him, the current IBIT holdings at the university account for only 1% of the fund’s target level of $50 billion. Nevertheless, Harvard ranks 16th among the largest holders of the instrument.
Since its launch, IBIT has remained the world’s largest Bitcoin-based exchange-traded fund, with net assets under management of just under $75 billion, according to SoSoValue. BlackRock’s ETF has absorbed 3.97% of the first cryptocurrency’s issuance.


Emory University, a private research institution in Atlanta, has also increased its positions in Bitcoin ETFs. As of September 30, the institution held over 1 million shares of the Bitcoin Mini Trust ETF from Grayscale, valued at $42.9 million. Over the quarter, holdings increased by nearly 90%.