Harvard’s endowment fund reported a position of around 6.8 million shares in the ETF IBIT (iShares Bitcoin Trust) for the third quarter of 2025 - equivalent to roughly 443 million US dollars.
This represents a substantial increase compared to its earlier position - an expansion of more than 250%. While this amount accounts for less than 1% of Harvard’s total endowment, the investment was officially declared the university’s largest US equity position.
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Facts about the holding
Harvard held around 6.8 million shares of the iShares Bitcoin Trust at the end of the third quarter of 2025, significantly expanding its previous position. The reported market value stood at roughly 443 million US dollars, making it one of the university’s largest disclosed single positions in the US equity space. The previously reported holding amounted to around 1.9 million shares (116 million US dollars), showing a substantial increase within just a few months.
Even though the share of Harvard’s total portfolio remains below one percent, the relevance is considerable: the position ranks as the university’s largest US equity holding and represents a significant portion of its publicly listed US investments. Moreover, the expansion took place during a period in which spot Bitcoin ETFs saw net outflows and the price of Bitcoin dropped below 100,000 US dollars.
Mix of Bitcoin and gold
At the same time, Harvard also increased its holding in the gold ETF GLD to around 661.391 shares (235 million US dollars). These actions suggest a strategic allocation approach in which Harvard considers both digital assets and traditional precious metals as hedging or diversification instruments.
Overall, this move by Harvard signals not only increased confidence in regulated cryptocurrency products but also a shift within institutional investment portfolios - away from exclusively traditional assets and toward broader diversification that includes digital assets.
