Harvard’s Latest Bitcoin ETF Bet
A new regulatory filing shows that Harvard now holds 6.81 million shares of BlackRock’s IBIT spot Bitcoin ETF. At the end of September, this stake was valued at $442.8 million, placing the university among the top 30 institutional holders of the fund.
The size of the position is notable because it represents a 257% increase from Harvard’s allocation earlier this year. Back in June, the institution held just 1.9 million IBIT shares.
Harvard also boosted its exposure to traditional safe-haven assets. The filing shows nearly 661,000 shares of GLD, the well-known gold-backed ETF, almost double its previous level.
Despite recent price pressure in the crypto market, Harvard appears to be taking a long-view approach. This is especially interesting given the university’s early skepticism. Years ago, a Harvard economist claimed Bitcoin was
“More likely to fall to $100 than reach $100,000 by 2028,”
yet the asset famously surged past $100K well ahead of that prediction.
A Signal to Other Institutions?
Some analysts see Harvard’s move as a potential green light for other endowments and large funds. Historically, major institutions have been cautious about using ETF structures for crypto allocations, but Harvard’s growing stake may shift that attitude.
Another major investor, Al Warda Investments, also increased its Bitcoin ETF exposure. The firm now owns 7.96 million IBIT shares, valued at $517.6 million, reflecting a 230% jump since mid-year.
ETF Outflows Continue Across the Market
Even with these high-profile increases, the broader Bitcoin ETF sector has been dealing with steady withdrawals. Data from SoSoValue shows that BTC ETFs recorded another $492 million in outflows, marking three consecutive days of negative movement.
On Thursday alone, outflows reached $869.9 million, making it the second-largest single-day withdrawal since spot Bitcoin ETFs launched.
Unsurprisingly, this selling pressure has weighed on Bitcoin’s short-term price. The coin slipped 1.24% in the past day to around $96,261, briefly dipping near the $95K zone before stabilizing.
Long-Term Growth Still Intact
Even with the recent turbulence, the overall trajectory of Bitcoin ETFs remains impressive. Since their debut in early 2024, spot Bitcoin ETFs have drawn in over $60 billion in net inflows and surpassed $1.5 trillion in trading volume. BlackRock’s IBIT continues to dominate the sector, now accounting for more than half of all U.S. Bitcoin ETF assets.
Other crypto ETFs have struggled, particularly Ethereum products, which have seen consistent outflows. Meanwhile, only the Solana ETF and XRP ETF appear to be attracting fresh capital.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
