Harvard and Emory Universities Increase Bitcoin Investments

Harvard University’s endowment team has reported a substantial holding of 6.8 million shares in IBIT stock, estimated to be worth around $443 million. Emory University has also taken steps to enhance its Bitcoin investments through ETFs this past quarter.

Harvard’s increased activity in the Bitcoin sector was particularly evident in the third quarter when the university amplified its investment in BlackRock’s leading crypto ETF. A filing with the U.S. Securities and Exchange Commission noted that as of September 30, Harvard Management Company possessed nearly 6.8 million shares of BlackRock’s iShares Bitcoin Trust—an impressive rise from about 1.9 million shares by the end of June. This stake values at roughly $442.8 million.

While this allocation may seem modest compared to Harvard’s whopping $56.9 billion endowment, it certainly reflects a noteworthy pivot in universities’ investment strategies regarding Bitcoin.

Interestingly, more institutions are beginning to allocate budgets for Bitcoin ETF investments. Harvard isn’t alone in this shift; Brown University has also entered the space. Emory University recently disclosed holding $13.8 million in IBIT stock, indicating a similar trend. Their third-quarter report showed they had one million shares of Grayscale Bitcoin Mini Trust, valued at $52 million. This is an increase from nearly half that amount in the previous quarter, alongside a smaller position of 4,450 shares in iShares Bitcoin Trust worth about $289,000.

However, it’s worth mentioning that the Spot Bitcoin ETFs encountered significant withdrawals this week. On Thursday alone, these funds lost nearly $867 million—the second-largest one-day drop since the SEC gave the green light in January 2024. This has raised some eyebrows, especially considering Bitcoin’s ups and downs, starting the week at $107,000 and dipping below $95,000 by Friday. Still, the endowment disclosures suggest that these universities are committed to a long-term investment outlook, buoyed by BlackRock’s well-regarded ETFs.