Largest U.S. university fund expands exposure to digital assets amid ETF growth
Harvard Management Company, which oversees the university’s $53.2 billion endowment, has disclosed a $116 million investment in BlackRock’s iShares Bitcoin ETF, marking one of the most significant institutional moves into cryptocurrency this year.
A recent U.S. Securities and Exchange Commission (SEC) filing shows Harvard holding approximately 1.9 million shares of the ETF as of June 30, making it the fund’s fifth-largest investment after Microsoft, Amazon, Booking Holdings, and Meta.
“The endowment and its asset allocation is set up to anticipate you’re gonna have some volatile periods,” said Robert Kaplan, Martin Marshall professor of management practice, in a previous commentary on the fund’s long-term strategy.
While Harvard has historically concentrated on technology sector investments, this disclosure suggests an increasing openness toward regulated crypto exposure. Reports indicate the university considered cryptocurrency-linked funds as early as 2018, though this appears to be its most substantial public allocation to date.
University endowments entering digital assets is a trend gaining momentum. In 2024, Emory University became one of the first major U.S. institutions to declare Bitcoin ETF holdings, acquiring 2.7 million shares of the Grayscale Bitcoin Mini Trust valued at over $15 million at the time.
The BlackRock iShares Bitcoin ETF was approved in January 2024 alongside ten other Bitcoin funds, a landmark SEC decision that opened the door for wider institutional adoption. According to BlackRock’s data, the ETF now manages over $86 billion in net assets, making it one of the fastest-growing crypto investment vehicles.
Analysts see Harvard’s move as a validation of Bitcoin ETFs’ role in mainstream institutional portfolios.
“When the largest university endowment in the U.S. allocates nine figures to a Bitcoin ETF, it sends a powerful message to other institutions considering similar exposure,” noted BITX market strategist.
With institutional confidence in Bitcoin ETFs rising and the crypto market showing resilience, Harvard’s investment underscores how digital assets are evolving from a niche alternative to a recognized component of diversified, long-term strategies.
Disclaimer
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