Harvard Ups Bitcoin ETF Stake By 257%

Harvard University significantly increased its holdings of BlackRock’s iShares Bitcoin Trust (IBIT) by 257%, signaling rising institutional confidence in Bitcoin despite recent ETF outflows. As of September 30, Harvard held 6,813,612 IBIT shares valued at $442.9 million, compared to 1,906,000 shares worth about $116 million in June.

The university also increased its gold holdings (GLD ETF) by 99% to 661,391 shares valued at $235 million. Harvard’s actions, as one of the world’s largest and most closely watched university endowments, often provide insight into emerging trends for other institutional investors.

Bloomberg ETF analyst Eric Balchunas noted the significance of Harvard’s move, stating it’s a “rare/difficult” endorsement for an ETF. Harvard’s IBIT allocation now ranks as its top holding, occurring amid historical volatility and record Bitcoin ETF outflows. On November 13, U.S. spot Bitcoin ETFs experienced $869 million in net outflows.

However, November 14 saw a near halt in these outflows, indicating potential institutional risk tolerance or strategic rebalancing. Macro analyst MacroScope questioned, “What does Harvard see coming?” alongside sovereign wealth fund activity.

Holdings in IBIT include Millennium Management ($1.58B), Goldman Sachs ($1.44B), Brevan Howard ($1.39B), and Capula Management ($580M). Sovereign wealth funds, like Abu Dhabi’s entity ($500M), are also increasing allocations.

These investments suggest a long-term conviction, likely driven by factors such as Bitcoin’s supply constraints, regulatory maturation, and broader inflation hedging strategies. BlackRock’s ETF has become the second-largest Bitcoin holder, trailing only Satoshi Nakamoto’s address.

Bitwise CEO Hunter Horsley remarked, highlighting the contrast between retail sentiment and institutional commitment during a bullish market. Harvard’s actions underscore the importance of observing institutional activity rather than reacting solely to short-term market fluctuations.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.