Bitcoin News Today: Harvard's Bitcoin ETF Stake Surpasses Tech Giants in Endowment Portfolio

Harvard University has significantly expanded its stake in BlackRock's Bitcoin ETF (IBIT), holding 6,813,612 shares valued at $442.8 million as of September 30, according to an SEC filing. This represents a 257% surge from the 1,906,000 shares disclosed in June, when the position was valued at $117 million. The move underscores a strategic pivot by the historically conservative endowment toward digital assets, positioning Harvard as one of the largest institutional holders of IBIT according to data.

The university's increased exposure to Bitcoin comes amid a broader institutional embrace of crypto-related products. Since their launch in early 2024, U.S. spot Bitcoin ETFs have attracted $60.8 billion in net inflows, with BlackRock's IBIT dominating the market by managing over half of these assets. Harvard's stake now constitutes 20.97% of its reported portfolio, surpassing holdings in tech giants. Analysts have called the filing "as good a validation as an ETF can get," noting the rarity of elite endowments allocating at this scale to cryptocurrency products.

Harvard's investment strategy also includes a 99% increase in gold ETF holdings, with the SPDR Gold Shares ETF (GLD) rising to $235 million from $117 million in June. This dual approach reflects a defensive posture amid economic uncertainties, including inflationary pressures and geopolitical tensions. The university's decision to scale back short-term market timing in favor of long-term positioning aligns with broader trends in institutional investing, where factors like monetary dilution and scarce compute capacity are reshaping asset allocation strategies.

Despite recent volatility, Bitcoin ETFs remain a key driver of institutional adoption. While outflows of $870 million were recorded on November 13—the second-largest single-day withdrawal—the broader inflow trend since early 2024 has solidified Bitcoin's role as a diversification tool. Harvard's prior Q2 holdings already placed it as the 29th largest IBIT holder, and its current position cements its influence in the ETF landscape. Other institutions, including Brown University, have also begun accumulating Bitcoin, signaling a potential shift in endowment strategies across academia.

The move has sparked debate about Bitcoin's future. Former Harvard economist Kenneth Rogoff, who once predicted Bitcoin would plummet to $100 by 2028, has since revised his stance, acknowledging underestimations in regulatory and demand dynamics. With Bitcoin trading near $96,000 and ETF assets stabilizing at $125.34 billion, the asset's evolution into a core portfolio component for sophisticated investors appears increasingly likely according to market analysis.