Harvard Cuts Bitcoin ETF Stake by 21% to $265.8M, Buys $86.8M Ethereum ETF
Harvard Management Company cut its IBIT stake by 1.46 million shares in Q4, reducing its position to $265.8 million (down 21%), while establishing a new 3.87 million‐share position in BlackRock’s iShares Ethereum Trust valued at $86.8 million. Combined crypto ETF exposure reached just over $352 million.
1. Q4 Portfolio Rebalancing
Harvard Management Company’s Q4 13F filing shows it trimmed 1.46 million shares of BlackRock’s iShares Bitcoin Trust to 5.35 million shares, valued at $265.8 million, and simultaneously opened a new 3.87 million‐share position in the iShares Ethereum Trust worth $86.82 million.
2. Historical Holding Trends
The university first disclosed a $116 million IBIT position in August 2025 and had tripled that stake to roughly $350 million by November before executing its recent reduction and rotation into Ethereum.
3. Institutional Rotation Implications
This shift underscores a growing view that Ethereum’s smart‐contract ecosystem offers multiple return drivers relative to Bitcoin’s store‐of‐value appeal, potentially prompting other institutions to assess the BTC/ETH ratio when rebalancing crypto ETF allocations.