The Rising Prominence of Bitcoin: A Closer Look at Harvard’s Investment Strategy
In recent years, Bitcoin has emerged as a highly lucrative asset, captivating the attention of numerous institutional investors. The surge in interest from major funds and esteemed universities has become more pronounced by 2025, with Harvard University standing as a noteworthy example of this trend.
At the beginning of August, Harvard University disclosed a significant holding of approximately $117 million in BlackRock’s spot Bitcoin ETF shares. This investment was substantial, but the latest financial disclosures indicate an even greater expansion. By the third quarter, Harvard’s exposure to Bitcoin has nearly tripled.
Harvard’s Strategic Investment in BlackRock’s Bitcoin ETF
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The recent 13F report filed by Harvard University reveals that as of September 30, the institution held 6.8 million shares in BlackRock’s iShares Bitcoin Trust (IBIT), valued at approximately $443 million. This move is part of a broader allocation strategy that also increased investments in the SPDR Gold Trust (GLD), now comprising over 661,000 shares worth around $235 million in the third quarter of 2025.
Compared to the 1.9 million IBIT shares reported at the end of June, this represents a remarkable 257% increase. Currently, BlackRock’s ETF is the largest single holding among Harvard’s official investments.
Although the investment’s scale is relatively modest compared to Harvard’s massive $57 billion endowment, it is sufficient to place the university in the 16th position among the largest ETF holders. This move further underscores Bitcoin’s growing acceptance as a reserve asset by major institutions.
As Bloomberg ETF analyst Eric Balchunas noted:
It is exceedingly rare for university funds to invest in an ETF, especially prestigious institutions like Harvard or Yale. This marks the highest form of endorsement an ETF can receive. While half a billion represents only 1% of their total assets, it is enough to make them one of the largest IBIT holders.
Challenges and Opportunities: BlackRock’s ETF Faces Market Dynamics
Despite some institutional interest, U.S. Bitcoin ETFs have experienced lackluster weeks. Recently, these funds have faced net outflows amounting to approximately $1.1 billion.
BlackRock’s iShares Bitcoin Trust has been at the forefront of these developments, experiencing three consecutive days of withdrawals. According to SoSoValue data, a significant $463.1 million was withdrawn on Friday, November 14 alone.
Nevertheless, IBIT remains the largest spot Bitcoin ETF on the market, with assets under management nearing $75 billion.
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