Harvard Cuts iShares Bitcoin Trust Holdings 43%, Mubadala Raises to $566M
Harvard University’s endowment reduced its iShares Bitcoin Trust position by 43% to 3.04 million shares, trimming the value from $443 million at its Q3 2025 peak to about $117 million. Meanwhile, Abu Dhabi’s Mubadala Fund increased its IBIT stake 16% to 14.72 million shares, valued at $566 million.
1. Harvard Endowment Reduces iShares Bitcoin Trust Stake
Harvard University’s endowment cut its iShares Bitcoin Trust position by 43% to 3,044,612 shares worth about $117 million, after peaking at $443 million in Q3 2025 and trimming 21% in Q4 2025. The move signals a rotation out of crypto exposure following an initial build that began in mid-2025.
2. Mubadala Boosts Bitcoin ETF Position
Abu Dhabi’s Mubadala Fund lifted its IBIT stake by 16% to 14,721,917 shares valued at $566 million, marking consecutive quarterly increases since Q4 2024. This underscores a sovereign wealth strategy that continues to accumulate spot Bitcoin ETF exposure.
3. Shift Toward Traditional Assets
With Harvard’s pullback, iShares Bitcoin Trust no longer ranks among the endowment’s top public-equity holdings; TSMC, Alphabet, Microsoft and SPDR Gold Trust now lead the portfolio. This reshuffling suggests a broader rebalancing into traditional equities and commodities.
4. Diverging Institutional Crypto Strategies
The contrasting actions of Harvard and Mubadala reflect a wider pattern: sovereign wealth funds and major banks continue adding to spot Bitcoin ETFs, while certain university endowments and trading firms take profits or rotate away after earlier gains.