Harvard triples down on bitcoin bet with spot ETF buys from world’s largest academic endowment

Harvard University significantly increased its investment in BlackRock's spot bitcoin ETF (IBIT), reporting ownership of 6,813,612 shares in Q3, a 257% increase from the 1,906,000 shares held at the end of June. This new position is now Harvard's largest declared holding, surpassing Microsoft and Amazon. While the Q3 value was $442.8 million, it has since decreased due to Bitcoin price fluctuations. This investment represents a small fraction of Harvard's total $57 billion endowment, but its adoption by a major endowment like Harvard is seen as significant validation for spot bitcoin ETFs, according to Bloomberg analyst Eric Balchunas. The article also notes that Emory University increased its holdings in Grayscale's Bitcoin Mini Trust ETF (BTC), and an Abu Dhabi sovereign wealth fund, Al Warda Investments, substantially increased its IBIT stake.

(Source：The Block)