Harvard Bets Big: $117M Poured Into BlackRock’s Spot Bitcoin ETF
Ivy League money meets crypto’s Wall Street darling—no trust-fund kid left behind.
Harvard’s endowment just dropped a cool $117 million into BlackRock’s spot Bitcoin ETF. That’s not pocket change—even for an institution sitting on $53 billion.
Why it matters: When old-money institutions start playing with digital fire, it’s either a genius hedge or the ultimate ‘greater fool’ trade. Place your bets.
The cynical take: Nothing screams ‘mainstream adoption’ like a 389-year-old university chasing the same volatility that wrecked Celsius investors. But hey—at least they’re not YOLOing into memecoins.
Universities expand crypto exposure
Harvard’s allocation follows a broader trend of prestigious universities entering the regulated crypto investment space. Brown University disclosed a $13 million IBIT stake during the same reporting period. Emory University took an earlier leap in 2024, acquiring 2.7 million Grayscale bitcoin Mini Trust shares, valued at over $15 million.
Due to volatility, custody challenges, and governance hurdles, most university endowments steered clear of direct crypto holdings for years. The emergence of spot Bitcoin ETFs has changed the equation. These funds are SEC-approved, exchange-traded, and professionally custodied, making them easier to integrate into large, compliance-heavy portfolios.
Harvard’s MOVE also reflects growing confidence in Bitcoin’s role as both a diversification tool and a growth asset. The timing comes after a strong start to 2025 for Bitcoin, with institutional inflows helping push prices higher.
BlackRock’s iShares Bitcoin Trust has seen explosive growth since its launch in January 2024, when the SEC approved it alongside ten other spot Bitcoin ETFs. IBIT has since amassed over $86 billion in net assets, holding around 738,000 bitcoins—roughly 3.5% of the cryptocurrency’s total supply.
The continuation of institutional adoption has been a domino effect on this growth. Hedge Funds, Pension Funds, and University Endowments use IBIT to own Bitcoin without incurring the operating complexities of owning it directly. Industry analysts, including those at State Street, expect North American crypto ETFs to be the third-largest this year behind equities and fixed income, eclipsing precious-metal ETFs.
That IBIT is now one of the largest and certainly most-tracked by Wall Street algorithms, in Harvard’s endowment, speaks to how far Bitcoin has ventured from a fringe, speculative asset. It is not long before it takes its place alongside the likes of big tech in some of the world’s most conservative (and influential) portfolios.
SEC rule changes boost market appeal
While the SEC’s approval spot for Bitcoin ETFs in January 2024 was a landmark, regulators are still adjusting to shape the market. Earlier this week, the SEC allowed 25000 options contracts per ETF. The addition of IBIT to the roster as such opens this new rule up for some more multi-directional trading and hedging strategies typically favored by institutional investors.
Analysts believe the move will help channel further liquidity into Bitcoin ETFs, building on top of their obvious appeal. Harvard has already increased the amount of its endowment allocated to IBIT each year, and the change certainly strengthens.
Harvard’s investment adds to the growing list of prominent institutions that believe bitcoin will play an essential long-term role in the world economy. What was once a speculative experiment is increasingly becoming a standard part of diversified, forward-looking portfolios—even for the world’s oldest and most established academic endowments.
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