Harvard Establishes Ethereum ETF Position for the First Time in Q4 2025, Reduces Bitcoin ETF Holdings by 21%

Harvard's Crypto Asset Movements in Q4 2025

According to the latest disclosure documents, Harvard's fund management organization adjusted its crypto asset portfolio significantly in Q4 2025. Holdings of Bitcoin ETFs were reduced by about 21%, while the university made its first investment in Ethereum ETFs.

Details of Portfolio Changes

As of December 31, 2025, Harvard held approximately 5.35 million shares in BlackRock’s IBIT, valued at $265.8 million, a decrease of 1.48 million shares compared to the previous quarter. Additionally, Harvard disclosed its first position in the iShares Ethereum Trust, holding about 3.87 million shares, worth approximately $86.8 million.

Significance of Crypto Assets

Despite the reduction, Bitcoin remains Harvard's largest publicly disclosed equity holding, surpassing its investments in Alphabet, Microsoft, and Amazon.

• Bitcoin ETF holdings reduced by about 21%
• First-time investment in Ethereum ETFs
• Total exposure to the two crypto assets reached $352.6 million