Harvard Management Company (HMC), the company responsible for the management of the $53 billion endowment fund at Harvard University, reported an investment worth millions in BlackRock’s Bitcoin Exchange-Traded Fund (ETF).
Harvard filed an SEC filing Friday. disclosed iShares Bitcoin, which holds 1.9 millions shares (about 1.9 million)BTC) ETF as of June 30. BTC was the fund’s 5th largest investment, behind Microsoft, Amazon Travel Technology, Booking Holdings and Meta.
Harvard, Yale, Stanford, Princeton and Stanford all reported endowment funds of $53.2 billion by June 30 2024. This makes Harvard the most wealthy US university.
“The endowment and its asset allocation is [sic] set up to anticipate you’re gonna have some volatile periods,” said Robert Kaplan explains the endowment in this 2017 video.
Harvard reported that the primary focus of its endowment was on investments for technology companies in 2025. considered buying shares in crypto funds Already in 2018. Emory University was the first US university endowment to disclose exposure to ETFs that track digital assets 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
The journey from SEC adoption to university adoption
SEC approved the listing and trading BlackRock BTC ETF in January 2024. The fund has grown BlackRock says that the net asset value of BlackRock as at Thursday was more than $86billion.
The SEC held its Tuesday meeting. said it would increase The number of options contracts allowed has been increased to 250,000, up from 25,000 “for all ETFs with options,” The iShares Bitcoin ETF would be included. Some predict that this move will lead to an increase in demand for cryptocurrency investment vehicles.
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Source: cointelegraph.com
