Key Takeaways
- • Harvard Management Company disclosed a $116 million position in BlackRock's iShares Bitcoin ETF, per a recent SEC filing, with approximately 1.9 million shares held as of June 30, 2025.
- • The position became the fifth-largest holding in Harvard's endowment, behind Microsoft, Amazon, Booking Holdings, and Meta.
- • Harvard's endowment stood at $53.2 billion as of mid-2024, ahead of Yale and Stanford among elite university endowments.
- • Emory University previously reported digital asset fund exposure in 2024, buying 2.7 million shares of the Grayscale Bitcoin Mini Trust.
- • The iShares Bitcoin ETF has grown to over $86 billion in net assets according to BlackRock data, following the SEC's January 2024 approval of spot bitcoin ETFs.
Summary
Harvard Management Company, which oversees the largest university endowment in the United States, has disclosed a $116 million investment in BlackRock's iShares Bitcoin ETF. According to a recent filing with the U.S. Securities and Exchange Commission, Harvard held approximately 1.9 million shares of the fund as of June 30, 2025. The allocation ranks as the fifth-largest holding in the endowment, behind Microsoft, Amazon, Booking Holdings, and Meta.
Harvard's endowment stood at $53.2 billion as of mid-2024, outpacing other elite universities including Yale and Stanford. The disclosure is part of a broader trend among university endowments. Emory University reported exposure to digital asset funds in 2024, purchasing 2.7 million shares of the Grayscale Bitcoin Mini Trust. Universities have increasingly weighed bitcoin as part of diversified portfolios.
Harvard's endowment managers have previously stressed preparing for volatility in asset allocations. Robert Kaplan, a Harvard professor, said, "The endowment and its asset allocation is set up to anticipate you're gonna have some volatile periods."
The U.S. SEC approved the BlackRock Bitcoin ETF and ten other spot bitcoin funds in January 2024, which sparked a surge in institutional interest. According to BlackRock data, the iShares Bitcoin ETF has since grown to over $86 billion in net assets. More recently, the SEC increased the maximum number of allowed options contracts on ETFs, including the iShares Bitcoin ETF, from 25,000 to 250,000. Some analysts believe this expansion could further boost institutional demand and trading volumes for bitcoin ETFs.
Harvard's endowment stood at $53.2 billion as of mid-2024, outpacing other elite universities including Yale and Stanford. The disclosure is part of a broader trend among university endowments. Emory University reported exposure to digital asset funds in 2024, purchasing 2.7 million shares of the Grayscale Bitcoin Mini Trust. Universities have increasingly weighed bitcoin as part of diversified portfolios.
Harvard's endowment managers have previously stressed preparing for volatility in asset allocations. Robert Kaplan, a Harvard professor, said, "The endowment and its asset allocation is set up to anticipate you're gonna have some volatile periods."
The U.S. SEC approved the BlackRock Bitcoin ETF and ten other spot bitcoin funds in January 2024, which sparked a surge in institutional interest. According to BlackRock data, the iShares Bitcoin ETF has since grown to over $86 billion in net assets. More recently, the SEC increased the maximum number of allowed options contracts on ETFs, including the iShares Bitcoin ETF, from 25,000 to 250,000. Some analysts believe this expansion could further boost institutional demand and trading volumes for bitcoin ETFs.
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