Harvard's endowment announced a $116 million investment in BlackRock's Bitcoin ETF, demonstrating a rising interest in digital assets among higher education institutions.
Harvard's Investment in Bitcoin ETF
According to Harvard Management Company, as of June 30, the university held 1.9 million shares of the Bitcoin ETF, accounting for approximately 0.2% of its total $53.2 billion endowment. This investment ranks fifth among Harvard's largest equity holdings, following Microsoft, Amazon, Booking Holdings, and Meta.
University Endowments and Digital Assets
Harvard is not the only educational institution adding cryptocurrency assets to its portfolio. For instance, Brown University purchased $4.9 million worth of Bitcoin ETF during the same period, while Emory University was the first endowment to invest in Bitcoin ETFs, acquiring $15 million in Grayscale Bitcoin Mini Trust shares. Such allocations represent small percentages of total endowment assets.
Success of BlackRock's Bitcoin ETF
BlackRock's Bitcoin ETF has become the most successful ETF launch in history, accumulating over $86 billion in assets within 18 months of launch. According to Bloomberg, the fund generates more annual revenue than BlackRock's S&P 500 ETF, despite being significantly smaller. University endowment adoptions reflect changing views on Bitcoin as a tool for portfolio diversification, which is further validated by increasing interest from pension funds and insurance companies.
Investments from Harvard and other universities in Bitcoin ETF highlight the growing recognition of cryptocurrencies as an alternative asset class, potentially leading to a new phase in the acceptance of digital assets by traditional institutions.
