Harvard Rebalances 21% Bitcoin ETF Stake, Allocates $86.8M to Ethereum
Harvard’s endowment trimmed its iShares Bitcoin Trust stake by 1.5M shares (21%) in Q4 2025, rebalancing $86.8M into 3.87M shares of iShares Ethereum Trust while retaining $265.8M in Bitcoin exposure. Bitcoin’s six-month 45% decline stemmed from 143,000 bitcoins sold by long-term holders and ETF redemptions, not single-firm manipulation.
1. Harvard Rebalances Bitcoin and Ethereum ETF Holdings
Harvard Management Company reduced its iShares Bitcoin Trust position by 1.5 million shares (21%) in Q4 2025, redeploying roughly $86.8 million into 3.87 million shares of the iShares Ethereum Trust while maintaining $265.8 million in Bitcoin exposure. This adjustment followed Bitcoin’s rally toward $126,000 and reflected a strategy to lock in gains and diversify return drivers across staking yield and decentralized finance.
2. Drivers of Bitcoin’s Six-Month 45% Decline
Bitcoin’s price slid 45% over the past six months as long-term holders sold 143,000 coins and ETF redemptions intensified selling pressure, outweighing any single firm’s impact. The decline underscores portfolio risk management and actual supply dynamics rather than coordinated market manipulation.