Harvard Endowment Reduces Ethereum and Cuts Bitcoin ETF Holdings

Harvard University’s endowment significantly reduced its cryptocurrency holdings in the first quarter of 2026, fully exiting a position in an Ethereum fund while further cutting its stake in a Bitcoin fund. The moves mark the third consecutive quarter of declining reported crypto exposure for the $57 billion endowment.

According to regulatory filings, Harvard Management Company sold its entire position in BlackRock’s iShares Ethereum Trust, valued at approximately $86.8 million at the end of 2025. The endowment had only established that stake in the fourth quarter of 2025. Simultaneously, it reduced its holdings in BlackRock’s iShares Bitcoin Trust by about 43 percent, leaving it with roughly 3.05 million shares worth approximately $117 million as of March 31.

The university first entered spot cryptocurrency ETFs in mid-2025, building a substantial Bitcoin position that peaked near $443 million in the third quarter of that year. It began trimming that stake in the fourth quarter of 2025 before making the deeper cuts disclosed this quarter. The endowment’s public equity portfolio, which includes these ETF holdings, represents only a fraction of its total assets.