Harvard Increases Bitcoin Trust Holdings to Top Position in Endowment
Harvard University significantly increased its stake in the iShares Bitcoin Trust (IBIT) by 257% during the third quarter, raising its holdings to 6.8 million shares valued at $442.8 million as of September 30. This investment has become Harvard's largest disclosed position and places the university as the 16th-largest holder of the BlackRock-managed Bitcoin ETF. The Bitcoin ETF stake now accounts for approximately 0.75% of Harvard’s $57 billion endowment.
According to the 13F filing, Harvard's Bitcoin ETF holdings rose sharply from 1.9 million shares reported in June to the current level. In addition to its Bitcoin investment, Harvard also almost doubled its gold ETF holdings by 99%, reaching 661,391 shares worth $235 million during the same period.
Analysts have described Harvard's move as a major institutional endorsement of Bitcoin exposure by an elite university endowment, noting that it is uncommon for top-tier endowments to invest in ETFs. This shift reflects a broader trend of institutional crypto adoption through regulated vehicles, with other institutions such as the Michigan Retirement System and the Wisconsin Investment Board also increasing their cryptocurrency allocations.
Historically, Harvard economist Kenneth Rogoff had expressed skepticism about Bitcoin’s value, suggesting it could be worth only a small fraction of current levels. However, he later acknowledged misjudgments and noted regulatory developments, illustrating the evolving attitudes toward cryptocurrency within Harvard.
