Harvard’s Crypto Pivot: Trimming Bitcoin, Adding Ethereum
Harvard Management Company, which oversees Harvard University’s $56.9B endowment, made a notable crypto adjustment in Q4 2025.
For the first time, it added exposure to Ether ETFs — purchasing roughly $87M worth of the iShares Ethereum Trust. At the same time, it reduced its Bitcoin ETF position from 6.8M shares to 5.4M shares, now valued at approximately $266M.
Crypto allocations represent about 1% of the total endowment portfolio.
Bitcoin remains Harvard’s largest disclosed crypto holding, but this move reflects a strategic rebalance rather than an exit.
Despite reporting a $113M fiscal deficit and facing increasing pressure around research funding and potential endowment taxation, Harvard’s portfolio continues to show resilience — supported by strong investment performance, donor backing, and now a measured tilt toward Ethereum’s long-term potential.
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