Harvard Cuts Bitcoin Holdings by 21%, Enters $86M Ethereum Bet
Harvard Management Company has made significant adjustments to its digital asset portfolio in the fourth quarter of last year. The university's investment arm reduced its exposure to BlackRock's iShares Bitcoin Trust by 21%, selling off 1.48 million shares worth $177 million.
The sale marks a decrease from the previous quarter when Harvard held 6.81 million shares valued at $442.8 million in the trust.
However, the university simultaneously acquired its first publicly disclosed position in an Ethereum exchange-traded fund, BlackRock's iShares Ethereum Trust, with 3.87 million shares worth $86.8 million as of December 31st.
The move signals a strategic shift in how Harvard approaches digital asset investments, which have been marked by significant price fluctuations in recent months.