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Harvard University’s endowment management firm, Harvard Management, has announced a reduction in its stake in BlackRock’s spot Bitcoin ETF. The reason cited is the significant volatility of the leading cryptocurrency.
The firm disclosed that it has decreased its investment in the iShares Bitcoin Trust ETF (IBIT) of the American investment conglomerate BlackRock to $265.8 million, down from $442.9 million in the third quarter of 2025.
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Additionally, Harvard Management sold over 1 million shares of the ETF, lowering its holdings to 5.4 million in the fourth quarter from 6.8 million in the third. Concurrently, the firm acquired more than 3.8 million shares of the iShares Ethereum Trust (ETHA) from BlackRock for approximately $87 million.
IBIT is a spot exchange-traded fund (ETF) linked to Bitcoin, enabling investors to access the leading cryptocurrency without the need for direct purchase and storage. The iShares Bitcoin Trust is regarded as one of the largest crypto funds, managing assets totaling $86 billion.
Harvard Management was established in 1974 to oversee the endowment fund, pension assets, and working capital of Harvard University.
Previously, Bitwise’s Chief Investment Officer Matt Hougan stated that by the end of 2025, four additional major financial institutions would permit their clients to trade shares of spot Bitcoin ETFs.
