In a significant shift within its investment strategy, Harvard University has announced a reduction in its Bitcoin holdings while making its debut investment in Ethereum. This development was disclosed in the recent 13F filing from the Harvard Management Company, which oversees the university’s financial assets.
As of December 31, Harvard Management Company reported possessing approximately 5.35 million shares of the iShares Bitcoin Trust ETF (IBIT), reflecting a notable decrease of 21% compared to the preceding quarter. This stake was valued at about $265.80 million based on IBIT’s share price of $49.65 on the same date. Despite the decrease, the iShares Bitcoin Trust ETF remains Harvard’s largest investment, constituting approximately 12.78% of its overall portfolio.
Conversely, the university has ventured into Ethereum investment for the first time, acquiring a total of 3,870,900 shares in the iShares Ethereum Trust ETF (ETHA). This investment is valued at roughly $86.82 million, calculated using ETHA’s price of $22.43 as of December 31. Both BTC and ETH ETFs faced pressures throughout the previous year, largely due to a downturn in the broader cryptocurrency market.
Industry peers have noted the strategic pivot from Bitcoin to Ethereum. Binance founder Changpeng Zhao expressed curiosity over whether Harvard might continue its trend by exploring other alternative cryptocurrencies in the future.
This shift reflects broader trends in the cryptocurrency investment landscape, where institutional interest and strategies are evolving quickly amidst market volatility. Harvard’s recalibration in its crypto holdings highlights a growing consideration among institutional investors to diversify their portfolios and respond to market dynamics.
