Harvard University’s investment fund has changed part of its crypto strategy. The university reduced its investment in a Bitcoin exchange-traded fund but bought Ethereum for the first time.
According to official documents, Harvard sold about 21% of its Bitcoin ETF shares. However, Bitcoin remains its largest publicly reported crypto investment. At the same time, Harvard purchased shares in an Ethereum investment vehicle for around $87 million.
During that period, the price of Bitcoin fell from almost $125,000 to less than $90,000. According to experts, this action might not indicate that Harvard is becoming less trusting in Bitcoin. Alternatively, it might just be readjusting its investments following last year’s impressive returns.
To control risk, big investors frequently rebalance their holdings. Harvard also decreased certain other holdings while increasing its investments in tech firms.
The ruling demonstrates that large organisations are still involved in cryptocurrency, but they are carefully controlling the amount of visibility they desire.
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