Harvard Haults Bitcoin Selloff Amid Price Decline

Harvard University's endowment has halted its selloff of BlackRock's iShares Bitcoin Trust, holding $101.4 million worth of shares as of June 30. This move marks a pause in what had been a sharp retreat from the asset class, with Harvard trimming its stake by 21% and then another 43% over the past two quarters.

The university held 3,044,612 shares at the end of the second quarter, matching the figure disclosed three months earlier. This decision to hold steady follows the dramatic reduction in the university's exposure, with Harvard having exited its position in BlackRock's spot Ethereum ETF.

Harvard was not alone in leaving its Bitcoin ETF share count untouched. Abu Dhabi's sovereign investors also took the same approach, with Mubadala Investment Company and the Abu Dhabi Investment Council keeping their combined $764 million Bitcoin ETF exposure unchanged.

JPMorgan increased its reported position from about 8.3 million shares to roughly 10.4 million, while Tudor Investment Corporation added 109,446 shares to bring its total to 688,529 shares worth $22.9 million.