Harvard Cuts Bitcoin Bet as Sovereign Funds Stack Up on IBIT

Harvard University's endowment reduced its exposure to the BlackRock iShares Bitcoin Trust ETF (IBIT) by 43% during Q1, bringing its position to 3.04 million shares worth around $117 million.

The university also fully exited its Ethereum spot ETF position after just one quarter, valued at approximately $86.8 million.

Meanwhile, sovereign funds and other institutional investors are increasing their stakes in IBIT, with Abu Dhabi's Mubadala Investment Company raising its holdings by nearly 16% to 14.72 million shares worth around $660 million as of March 31.

Mubadala-affiliated entity Abu Dhabi Investment Council (ADIC) maintained its position at 8.22 million shares, valued at $315.8 million, despite a roughly $92 million drop in dollar value due to the ETF's price decline during Q1.