Harvard Trims Exposure in BlackRock IBIT by 43%, Fully Exits Ether ETF

Harvard Management Company (HMC), which oversees Harvard University’s endowment, reduced its crypto ETF exposure during the first quarter of 2026, according to its latest Form 13F filing.

In its latest 13F filing dated May 14, HMC stated that it has decreased its investment in BlackRock’s iShares Bitcoin Trust ETF by approximately 43%. The university also fully exited its position in the iShares Ethereum Trust ETF (ETHA), valued at roughly $86.8 million to $87 million at the end of the previous quarter.

The move comes as institutional investors reassess crypto exposure amid ongoing market volatility and Bitcoin’s recent decline below $78,000.

Other university endowments adjust holdings

Other university endowments of the U.S. also revealed their cryptocurrency ETF positions in their recent 13F forms. Dartmouth College remained committed to its existing 201,531 shares of the iShares Blockchain and Tech ETF offered by BlackRock, with an estimated value exceeding $9 million.

In addition, the university replaced its Ethereum holdings with the Grayscale Ethereum Staking ETF while continuing with its 178,148 shares of the fund. Moreover, the university entered a new position with respect to the Bitwise Solana Staking ETF by purchasing 304,803 shares of the ETF with an estimated value of about $3.67 million. The shares of the iShares Blockchain ETF owned by Brown University stayed the same at 212,500.

Meanwhile, Emory University streamlined its Bitcoin holdings by exiting its small IBIT position and increasing its stake in the Grayscale Bitcoin Mini Trust to 1,354,148 shares.

Harvard’s prior quarter holdings

According to the 2025 fourth quarter SEC filing of the company, HMC changed its cryptocurrency policy. The university held approximately 5.35 million shares of IBIT with an approximate market value of $265.8 million at the close of Q4 2025. 

The university’s endowment sold about 1.48 million shares of iShares Bitcoin Trust (IBIT) issued by BlackRock, thus reducing the amount of their ownership by 21%. Along with that, Harvard University has made its first-ever purchase of Ethereum shares, purchasing nearly 3.9 million shares of BlackRock’s iShares Ethereum Trust (ETHA) worth $86.8 million. The combined crypto ETF holdings reached approximately $352.6 million.

Institutional interest remains intact

Although there have been some reductions, the investments of Harvard University in cryptocurrency exchange-traded funds reveal the growing acceptance of virtual currencies. The institution keeps seeing them as an element of a diversified investment strategy, although a conservative one in terms of scale. 

Considering that Bitcoin is trading around $77,800, as well as recent regulatory moves like new ETF submissions for other alternative coins, Harvard’s latest filing offers important insights into dealing with cryptocurrencies.

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