Harvard Holds Steady on BlackRock Bitcoin ETF Stake After Prior Quarter’s Cut

The university's endowment kept its $101 million position in BlackRock's bitcoin ETF unchanged in Q2, following a 43% reduction the quarter before.

Harvard's endowment did not adjust its bitcoin exchange-traded fund holding during the second quarter, according to filings reviewed by The Block and CryptoBriefing. The position, held through BlackRock's spot bitcoin ETF, was valued at approximately $101 million as of the reporting period.

The decision to hold steady stands out because it follows a sharp reduction in the prior quarter. Harvard had trimmed the same stake by 43% before the second quarter began. Leaving the position untouched afterward suggests the endowment settled into a smaller but stable allocation, at least for now.

Institutional investors disclose equity-like holdings, including ETF shares, through periodic filings with securities regulators. These filings offer a snapshot of positioning at quarter's end but do not capture intraday trading or reasons behind allocation changes. Harvard has not publicly explained either the earlier cut or the subsequent pause.

BlackRock's spot bitcoin ETF has become one of the primary vehicles institutions use to gain bitcoin exposure without holding the asset directly. The fund avoids the custody and operational complexities that come with owning bitcoin on-chain. That structure has made it attractive to pension funds, endowments, and other large allocators since its launch.