Harvard Maintains Bitcoin ETF Stake at $101M During Q2

Harvard Holds $101M Stake in Bitcoin ETF Steady

In a notable move within the cryptocurrency investment landscape, the Harvard Management Company has maintained its position in BlackRock’s iShares Bitcoin Trust (IBIT), retaining a stake worth $101.4 million as of June 30. This decision marks a change from previous quarters, where Harvard had sequentially reduced its Bitcoin exposure.

Previous Reductions and Current Holdings

Over the past year, Harvard had diminished its Bitcoin ETF holdings significantly, cutting its position by approximately 21% in the fourth quarter and a further 43% in the first quarter of this year. The endowment held 3,044,612 IBIT shares in June, a figure consistent with its holdings from March 31, where the value was reported to be around $116.97 million. The decrease in reported value reflects a decline in IBIT’s price during the quarter rather than any additional selling by Harvard.

Comparison with Other Investment Positions

In addition to its Bitcoin ETF stake, Harvard has significant investments in gold ETFs, totaling $171.2 million. This considerably surpasses its Bitcoin position. The latest SEC filing showed that Harvard holds $149.5 million in the iShares Gold Trust and $21.7 million in SPDR Gold Trust shares.

Institutional Peer Movements

Other institutional investors displayed mixed reactions regarding their Bitcoin ETF stakes. Mubadala Investment Company and the Abu Dhabi Investment Council each held their IBIT shares steady, totaling around $763.7 million combined. Meanwhile, JPMorgan increased its reported IBIT holdings to about 10.4 million shares, while Morgan Stanley reduced theirs by approximately 4.5%.

Looking Ahead

The SEC filings provide insight only as of June 30, and future activities during the third quarter remain undisclosed. The subsequent Form 13F filings will reveal updated holdings as of September 30. Until then, the data confirms that Harvard has halted its recent pattern of selling, signaling a period of stabilization in its approach to Bitcoin investments.