Earlier this year, Harvard’s endowment fund shook up its crypto approach by reducing its Bitcoin ETF exposure, and adding Ethereum ETF shares. Only months later, however, the Ivy League school has refined that approach further as its latest disclosures show that Harvard has shaved its Bitcoin position further—and gotten rid of its Ethereum stake altogether.
The latest move by the endowment managers means that this is the third consecutive quarter that the value of Harvard’s crypto holdings has declined. The high water mark came in Q3 of 2025, when the university endowment reported $442 million in Bitcoin ETF holdings. That made Bitcoin the most valuable public equity Harvard held, but the university has since trimmed its Bitcoin holdings, and Bitcoin’s price has fallen. In its latest regulatory flings, Harvard’s endowment reported $117 million in shares of BlackRock’s IBIT Bitcoin ETF after selling 2.3 million shares since the prior quarter.
Harvard is in a league of its own when it comes to university investments owning crypto equities. The university is a significant institutional holder of Bitcoin, although its holdings are dwarfed by banks and sovereign wealth funds. Overall, Harvard is among the 25 largest holders of IBIT, according to data from Quiver Quantitative.
