Harvard just poured a major amount of cash into the leading crypto asset, Bitcoin.
A new 13F filing with the SEC shows the university’s endowment has boosted its stake in BlackRock’s iShares Bitcoin Trust (IBIT) to 6,813,612 shares, worth about $443 million as of September 30th.
This marks a 257% increase from Q2’s 1.91 million shares, worth $116 million.
IBIT now tops Harvard’s US equity holdings, surpassing Microsoft at $323 million and Amazon at $235 million.
Bloomberg’s senior ETF analyst Eric Balchunas says the move represents a seal of approval for Bitcoin ETFs.
“It’s super rare/difficult to get an endowment to bite on an ETF- esp a Harvard or Yale, it’s as good a validation as an ETF can get.
That said, half a billion is a mere 1% of total endowment. Big enough to rank 16th among IBIT holders tho.”
IBIT now has $81 billion in assets, capturing 35% of all spot Bitcoin ETF inflows.
Follow us on X, Facebook and TelegramGenerated Image: Midjourney