#HarvardAddsETHExposure Harvard Cuts Bitcoin ETF Stake, Adds $86.8M ETH ETF
Harvard cut its iShares Bitcoin Trust position by about 21%, selling roughly 1.5 million shares.
Harvard initiated a new position of nearly 3.9 million shares in BlackRock's iShares Ethereum Trust worth about $86.8 million.
Despite the trim, Harvard's IBIT stake remained its largest disclosed crypto holding at $265.8 million
Harvard University’s $56.9 billion endowment made its first disclosed Ethereum investment in the fourth quarter while trimming its bitcoin exposure.
Harvard Management Company, which oversees the endowment, bought nearly 3.9 million shares of BlackRock’s iShares Ethereum Trust.
The stake was valued at about $86.8 million at quarter-end.
Bitcoin ETF position reduced
Over the same period, Harvard cut its position in BlackRock’s iShares Bitcoin Trust by roughly 21%, selling around 1.5 million shares.
Despite the reduction, the bitcoin ETF remained Harvard’s largest publicly disclosed crypto-related holding, valued at $265.8 million.
The portfolio shift came during a steep bitcoin drawdown.
Bitcoin fell from an all-time high near $125,000 in October to end the quarter just below $90,000.
At the time of reporting, bitcoin was trading around $67,897, down roughly 28% over the prior month.
Strategist comments
Fundstrat co-founder Tom Lee said worsening sentiment and weak price action suggested the market was in late-stage capitulation.
#HarvardAddsETHExposure #DireCryptomedia #Write2Earrn $BTC $ETH