Ivy League schools are betting big on Bitcoin: Harvard reveals $117M ETF position, Brown doubles holdings.

Harvard Management Company has reported purchasing 1.9 million shares of BlackRock's iShares Bitcoin Trust ETF worth nearly $117 million in Q2. Brown University also reported holding 212,500 IBIT shares worth over $13 million as of June 30. These investments make Harvard and Brown the 29th-largest and 15th-largest IBIT holders, respectively. The allocations from the universities could lead to greater inflows in the future and set a precedent for other endowments to follow.

Harvard Management Company, the entity responsible for overseeing Harvard University's $53 billion endowment fund, has reported a significant investment in BlackRock's iShares Bitcoin Trust ETF (IBIT). In its latest quarterly filing with the U.S. Securities and Exchange Commission (SEC), Harvard disclosed holding 1.9 million shares of the iShares Bitcoin ETF as of June 30, valued at nearly $117 million [1].

This investment positions Harvard as the 29th-largest holder of IBIT shares. The university's move reflects growing institutional confidence in crypto, joining peers like Emory University in allocating to regulated digital assets [2]. Additionally, Brown University has reported holding 212,500 IBIT shares worth over $13 million as of June 30, making it the 15th-largest IBIT holder [2].

The allocations from these Ivy League universities could lead to greater inflows in the future and set a precedent for other endowments to follow. Harvard's investment in particular underscores the increasing legitimacy of crypto assets in institutional portfolios, highlighting the role of regulated vehicles in facilitating broader adoption [3].

BlackRock's IBIT, approved by the SEC in January 2024, has rapidly gained traction, with net assets reaching over $86 billion by early August [3]. The ETF has benefited from recent regulatory changes, such as increased options contract limits, which are expected to enhance liquidity and attract further institutional activity [3].

The Harvard investment represents a shift from earlier, more exploratory engagements with digital assets, which began with its 2018 investment in crypto-focused venture capital funds and 2019 SEC filings related to token purchases [3]. Unlike those earlier, smaller, and less transparent exposures, the IBIT position is fully disclosed and integrated within the same financial category as major equity investments [3].

The Harvard and Brown investments are being viewed as pivotal moments in the institutionalization of Bitcoin, reinforcing the growing acceptance of digital assets as a legitimate asset class. As more institutions consider similar strategies, the crypto market may witness sustained demand, regulatory clarity, and greater market depth [3].

References:
[1] https://www.tradingview.com/news/zycrypto:fcd049ad1094b:0-harvard-discloses-116-million-investment-in-blackrock-s-ishares-bitcoin-etf/
[2] https://finance.yahoo.com/news/harvard-university-reveals-shocking-bitcoin-202757253.html
[3] https://www.ainvest.com/news/bitcoin-news-today-harvard-allocates-116-6m-blackrock-bitcoin-etf-surpassing-gold-holdings-2508/