A 13F filed by Bloomberg ETF Analyst Eric Balchunas shows that BlackRock’s IBIT Bitcoin ETF is the largest holding of Harvard University. IBIT shares are worth about $442.88 millions to the world-renowned institution. Balchunas says that Harvard University’s endowment is a strong supporter of the IBIT ETF. It is among the 16 biggest IBIT holders in the world.
BlackRock Bitcoin ETF Sells Off Bitcoin Amid Crash
ETF outflows are a key factor in the market’s current correction. According to Farside InvestorsFinancial institutions sold Bitcoin worth $278.1 Million on November 12, $866.7 million on the 13th, and $492.10 million on the 14th.
ETFs played an important role in this current cycle. Bitcoin (BTC), has reached multiple highs since the US SEC granted 11 ETFs for spot trading in 2024. Ethereum (ETH) has also reached a new high this year due to the increased inflows of ETFs. BTC and ETH are suffering as ETF inflows have plummeted.
Bitcoin (BTC), and the larger cryptocurrency market, is facing the biggest crash in recent history. The price of the original cryptocurrency has dropped below $96,000. This was a level at which prices were last seen in May 2025.
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It is possible that the crash was caused by the diminishing chances of another Federal Reserve interest rate reduction. In his speech in October, Fed Chairman Jerome Powell raised concerns about the slowing economy and increasing inflation. Powell’s October speech could have caused investors to move away from risky investments, like cryptocurrencies.
Can BTC recover soon?
Crypto market volatility is high at the moment. Bitcoin (BTC), as the leader of the crypto market, sets the standard for all other assets. The crypto market could consolidate at current levels if there is no imminent interest rate reduction.
Macroeconomic trends may also influence the market. Investors may be influenced by a slow economic recovery to move away from Bitcoin and other cryptocurrencies.
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Source: watcher.guru
