Overview
- Regulatory disclosures indicate a 257% increase in Harvard’s iShares Bitcoin Trust position in Q3 2024, making it the top listed holding as of September 30.
- Harvard also raised its SPDR Gold Shares position by about 99% in the quarter, resulting in roughly a two-to-one tilt toward Bitcoin, according to Bitwise’s Matt Hougan.
- The Bitcoin ETF stake represents about 0.75% of the endowment and places Harvard among the top 20 holders of BlackRock’s fund, per reported holdings data.
- The accumulation preceded a market pullback and periods of outflows from spot Bitcoin ETFs, leaving near-term performance under pressure.
- Academics and columnists criticized the move for volatility, lack of yield, limited payment utility and energy use, while market watchers flagged potential signaling effects for other institutions.