Harvard University's endowment fund has aggressively scaled back its exposure to cryptocurrencies. According to recent regulatory filings, the world's largest academic endowment fund reversed its bullish stance on crypto assets during the first quarter of the year.
The move highlights an emerging divergence among Wall Street's elite regarding the long-term viability of spot crypto products. While some multi-billion-dollar entities continue to accumulate digital assets, others are rapidly taking profits or mitigating risk amid a choppy macroeconomic landscape.
What Did Harvard Sell?
The latest Form 13F filed with the U.S. Securities and Exchange Commission (SEC) reveals that the Harvard Management Company (HMC) completely eliminated its $86.8 million position in BlackRock’s iShares Ethereum Trust (ETHA).
Compounding this full exit, Harvard also downsized its position in BlackRock’s iShares Bitcoin Trust (IBIT) by roughly 43%. The endowment offloaded approximately 2.3 million shares of the spot Bitcoin ETF, leaving it with 3,044,612 shares valued at approximately $117 million at the end of the quarter.
Understanding Institutional Rebalancing and 13F Filings
To contextualize Harvard's recent...
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