Harvard University Significantly Increases Investment in Bitcoin ETF
- Harvard University boosted its investment in BlackRock’s Bitcoin exchange-traded fund (ETF) by over 250% in Q3.
- The university initially held approximately 1.9 million shares worth $116.6 million, making it the largest position increase for Harvard this quarter.
- Despite the significant increase, this investment represents only about 1% of Harvard’s total endowment.
- Harvard is now the 16th-largest holder of the BlackRock Bitcoin ETF, known as IBIT.
- In addition to Bitcoin, Harvard expanded its investments in major tech firms and entered a new position in Klarna valued at $16.8 million.
This move is noteworthy as endowments are generally resistant to investing in ETFs, making Harvard’s decision a significant endorsement for Bitcoin ETFs. Additionally, the broader market saw net outflows from Bitcoin ETFs totaling $1.11 billion last week amid fluctuating prices.
Harvard’s increased stake reflects a growing interest in Bitcoin investment strategies despite current market challenges, with Bitcoin trading below $95,000 after recent declines.(Source)
