Harvard University has committed approximately $87 million to BlackRock's iShares Ethereum Trust (ETHA), according to recent SEC filings. This substantial investment in Ethereum comes as the Ivy League institution has reduced its stake in the iShares Bitcoin Trust (IBIT) by 21%, divesting an estimated $72 million worth of Bitcoin.
This strategic reallocation occurs during a period of broader market downturn in the cryptocurrency sector. Analysts note that such investments by major institutions, even amidst volatility, are positive indicators for crypto asset issuers. Harvard's crypto ETF investments now surpass its holdings in prominent tech stocks like Alphabet and Microsoft. The university's total investment in crypto ETFs stands at over $350 million, representing a small fraction of its substantial $57 billion endowment.
Several other universities, including Dartmouth, Brown, and Emory, have also disclosed their positions in Bitcoin and Ethereum ETFs. This trend highlights a growing institutional interest in digital assets, even as market prices for Bitcoin and Ethereum have experienced significant declines from their previous peaks.