Harvard Endowment Shifts Investment Focus from Bitcoin to Ethereum

By: Eliza Bennet

In a strategic financial maneuver, the Harvard Management Company has adjusted its cryptocurrency investment strategy. The prominent university's endowment management has decreased its stake in BlackRock's iShares Bitcoin Trust ETF, reflecting a 21% reduction from its previous investment. This move aligns with a broader trend observed in the financial market favoring larger exposure to Ethereum over Bitcoin.

As outlined in a recent filing with the U.S. Securities and Exchange Commission, Harvard's endowment portfolio showed a decrease in Bitcoin ETF holdings, reducing their once $442.9 million stake in Q3 2025 to $265.8 million by the end of the fourth quarter. Harvard Management Company offloaded over 1 million shares, suggesting a strategic realignment in cryptocurrency investments.

Concurrently, the endowment opened a significant new position in BlackRock’s iShares Ethereum Trust, acquiring over 3.8 million shares valued at approximately $87 million as of December 31. This move reflects a growing institutional interest in Ethereum, perceived for its robust utility and application in decentralized finance (DeFi) and smart contracts.

This pivot from Bitcoin to Ethereum by an influential institution like Harvard marks a noteworthy moment in the evolving landscape of institutional investment in cryptocurrencies. It highlights a shifting perspective that sees Ethereum's underlying technology and potential applications as a compelling investment narrative.