Harvard cuts Bitcoin 21%, buys $86.8M Ethereum ETF stake
Harvard Management Company reduced Bitcoin ETF holdings by 21% to 5.35 million IBIT shares valued at $265.8 million. The endowment opened its first Ethereum ETF position with 3.87 million ETHA shares worth $86.8 million.
Harvard reduces Bitcoin position by 21 percent
Harvard Management Company reduced its holdings in the iShares Bitcoin Trust (IBIT) by 21 percent in the fourth quarter of 2025. The endowment held 5,353,612 shares on 31 December 2025, down from 6,813,612 shares in the third quarter. The reduction eliminated 1,460,000 shares from the portfolio. The remaining Bitcoin exchange-traded fund (ETF) position was valued at $265.8 million at year-end.
Endowment opens first Ethereum ETF stake
Harvard initiated its first publicly disclosed Ethereum investment in the same quarter. The endowment acquired 3,873,044 shares of the iShares Ethereum Trust (ETHA) valued at approximately $86.8 million on 31 December 2025. The position marks Harvard's entry into Ethereum-linked ETF products. Both holdings appear in the endowment's Securities and Exchange Commission (SEC) 13F filing dated 13 February 2026.
Bitcoin remains largest disclosed crypto holding
Despite the reduction, Bitcoin constitutes Harvard's largest public crypto asset position. The $265.8 million Bitcoin ETF holding exceeds the Ethereum position by a ratio of approximately three to one. Harvard's total disclosed crypto ETF exposure reached $352.6 million across both assets at the end of 2025. The rebalancing represents portfolio diversification between digital asset products rather than withdrawal from crypto markets.
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