- Harvard holds 1.9 million BlackRock Bitcoin ETF shares worth $116M as of June 30.
- BlackRock’s Bitcoin ETF now owns about 3.5% of the total circulating Bitcoin supply.
- Brown and Emory also bought Bitcoin ETF shares, showing wider university interest.
Harvard Management Company, which manages the university’s $53.2 billion endowment, has disclosed a $116 million position in BlackRock’s iShares Bitcoin ETF (IBIT). The filing with the U.S. Securities and Exchange Commission (SEC) shows Harvard held approximately 1.9 million IBIT shares as of June 30, 2025.
This holding ranks as the endowment’s sixth-largest investment, with big companies like Alphabet and Amazon ranking above IBIT. The disclosure places Harvard among the largest U.S. universities to take significant exposure to Bitcoin through a regulated exchange-traded fund.
Institutional Bitcoin Exposure Gains Momentum
The investment coincides with a rapid expansion of IBIT’s market footprint. BlackRock’s fund holds around 738,000 bitcoins. That is equivalent to roughly 3.5% of the cryptocurrency’s total circulating supply. As of Thursday, BlackRock reported IBIT’s net assets at over $86 billion, making it one of the fastest-growing ETFs in history.
Regulatory developments may further support this growth. On Tuesday, the SEC announced it would raise the maximum number of allowed options contracts for all ETFs from 25,000 to 250,000. The change includes IBIT and could boost market liquidity and investor participation.
The trend extends beyond Harvard. Brown University disclosed a $13 million IBIT stake in the same period. Emory University moved earlier in 2024, purchasing 2.7 million shares of the Grayscale Bitcoin Mini Trust valued at $15 million at the time.
Endowments Adapt to New Asset Classes
For years, most university endowments avoided direct cryptocurrency holdings due to volatility, custody complexities, and governance limitations. The launch of spot Bitcoin ETFs has altered this dynamic. These funds are SEC-approved, exchange-traded, and professionally custodied, removing many of the operational and compliance challenges.
Harvard’s investment reflects its established philosophy of preparing for volatile market periods. While Harvard’s IBIT stake represents a small fraction of its portfolio, it shows a willingness to integrate Bitcoin into long-term strategies.
Analysts comment on how rising inflation and lingering economic uncertainty are prompting large funds to question classic portfolio mixes. Traded funds such as IBIT may well be considered a bridge into the digital asset market, without the operational restrictions of owning Bitcoin directly.
Related: BlackRock ETF Reaches $80B AUM Milestone, Fueling Bitcoin Bullish Outlook
From Speculative Interest to Strategic Allocation?
Industry analysts predict crypto ETFs in North America could rank as the third-largest ETF category by year-end, behind only equities and fixed income. Harvard’s $116 million allocation to BlackRock’s iShares Bitcoin ETF marks a crucial entry into regulated digital assets by one of the largest U.S. universities. The move illustrates an increasing institutional acceptance of Bitcoin as a strategic, long-term portfolio component rather than just a short-term trade.
With spot Bitcoin ETFs giving a secure, compliant, and liquid investment route, more investments may come along. As market infrastructure and regulatory clarity develop, the line between traditional assets and digital assets continues to narrow in institutional investing.
Moreover, Harvard’s entry into IBIT could signal a pivotal moment in this trend, raising a broader question: Is Bitcoin on a trajectory toward becoming a permanent fixture in endowment portfolios?
