The Harvard Administration Firm (HMC), the entity chargeable for managing the endowment fund of Harvard College in the US, made an adjustment to its digital asset portfolio by lowering its holdings in bitcoin (BTC) exchange-traded funds (ETF) to include publicity to ether (ETH), Ethereum’s cryptocurrency, for the primary time.
This portfolio reconfiguration was introduced via Type 13F filed final Friday, February 13, with the US Securities and Alternate Fee (SEC). This can be a necessary quarterly submitting doc for institutional funding managers managing belongings value greater than $100 million.
The report particulars that, on the finish of December 31, the American college had a mixed publicity of $352 million in monetary devices based mostly on each digital belongings.
It’s value clarifying that within the SEC’s official 13F studies, the “VALUE (x$1000)” column signifies that the numbers are in hundreds of {dollars}. However in summaries, tables or photos just like the one we see right here, the numbers are already expanded to the complete greenback worth. The “(x$1000)” stays because the label of the unique format, though nothing must be multiplied anymore. The quantities proven are the ultimate quantities in USD.
Along with bitcoin and ether ETFs, Harvard invests in quite a lot of massive firm shares. Amongst its most notable positions on the finish of the quarter had been Alphabet (Google, $253 million), Microsoft (237 million), Reserving Holdings (180 million), Amazon (157 million), Broadcom (111 million) and SPDR Gold Shares (gold ETF, 248 million), amongst others.
In particular phrases, Harvard owned 5.35 million shares of the iShares Bitcoin Belief (IBIT) managed by the agency BlackRock, a place that was valued at $265 million on the finish of the 12 months. This determine represents a discount of 1.48 million shares in comparison with the earlier quarter, when the entity reported having 6.81 million shares with a worth of 442.8 million {dollars}.
The transfer implies a 21% lower in its variety of bitcoin ETF shares in comparison with the earlier interval.
Concurrently with this sale, the college opened a brand new $86 million place within the iShares Ethereum Belief (ETHA), additionally managed by BlackRock. Over the last reported quarter, The establishment acquired a complete of three.87 million shares of this fund linked to the ether cryptocurrencyas said within the official doc.
This partial capital rotation occurred in a context of excessive volatility for the market, the place BTC reached an all-time excessive of $126,000 in October 2025 after which fell to $88,429 as of December 31, whereas ETH skilled a decline of shut to twenty-eight% in the identical interval.
Regardless of the partial sale of its holdings, BlackRock bitcoin ETF remained largest place in Harvard inventory publicly disclosed on the finish of December, with a complete worth of 265.8 million {dollars}. The college has invested within the bitcoin ETF managed by BlackRock because the second quarter of 2025, when it initiated the place with a $117 million stake.
The conduct of the college displays the maturation of the funding automobiles launched in 2024, as reported by CriptoNoticias. These have allowed massive establishments to handle their publicity to crypto belongings.
At present, the entire internet belongings of bitcoin ETFs symbolize $87.04 billion, equal to six.33% of the entire market capitalization of this asset, whereas ether funds accumulate $11.72 billion in complete internet belongings, representing 4.75% of the ether market.
