Harvard endowment invests $116M into BlackRock Bitcoin ETF.
Harvard Management Company, the entity responsible for managing the university’s $53-billion endowment fund, has reported a multimillion-dollar investment in BlackRock’s Bitcoin exchange-traded fund (ETF).
In a Friday filing with the US Securities and Exchange Commission (SEC), Harvard disclosed holding about 1.9 million shares of the iShares Bitcoin ETF as of June 30. The BTC exposure was valued at more than $116 million, making it the fund’s fifth-largest investment for the period after Microsoft, Amazon, travel technology company Booking Holdings, and Meta. Harvard reported its endowment fund was $53.2 billion as of June 30, 2024, making it the largest among US universities, ahead of Yale, Stanford and Princeton. “The endowment and its asset allocation is [sic] set up to anticipate you’re gonna have some volatile periods,” said Robert Kaplan, Martin Marshall professor of management practice in business administration, in a 2017 video explaining the endowment.
