Harvard Endowment invests $116 million into BlackRock Bitcoin ETF

Harvard Management Company is the organization responsible for managing $53 billion of endowment funds at Harvard. The company has invested multi-millions in BlackRock’s Bitcoin ETF.

Harvard filed an SEC filing Friday. disclosed iShares Bitcoin): 1.9 Million shares.BTCAs of 30 June, the ETF was worth more than $116 million. BTC’s exposure to the ETF was worth more than $116m, which makes it the fifth largest investment in the fund for this period, after Microsoft, Amazon and travel technology company Booking Holdings. 

Harvard’s endowment fund is $53.2 billion, which makes it the biggest US university, surpassing 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 an explanation video from 2017. 

Harvard reported that the primary focus of its endowment was on investments for technology companies in 2025. considered buying shares in crypto funds As early as 2018 Emory University is one of the first US endowments that will report its exposure to digital asset exchange-traded funds (ETFs) in 2024. buying 2.7 million shares Grayscale Bitcoin Mini Trust was worth over $15 million when it was created.

Related: Austin University to launch $5M Bitcoin fund with 5-year HODL strategy: Report

From SEC to University adoption: the journey

SEC approved the listing and trading The fund will hold the BlackRock BTC ETF as well as 10 other funds by January 2024. The fund is a grown BlackRock says that the net asset value of BlackRock as at Thursday was more than 86 billion dollars.