Harvard University has sharply increased its exposure to Bitcoin, tripling its stake in BlackRock’s iShares Bitcoin Trust during the third quarter.
According to a new regulatory filing, Harvard Management Company now holds over 6.8 million IBIT shares worth $442.8 million as of Sept. 30, up from its initial 1.9 million-share position in August.
Bloomberg analyst Eric Balchunas said endowments rarely invest in ETFs, calling Harvard’s move a major validation for Bitcoin ETFs.
Despite the surge, the investment still represents only around 1% of Harvard’s $57 billion endowment.
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