Harvard’s Big Bitcoin Bet: IBIT Now Tops University’s U.S. Portfolio

16. Nov 2025 Posted by Bailey S. on News

Harvard University has massively expanded its exposure to Bitcoin ETFs, nearly tripling its stake in BlackRock’s iShares Bitcoin Trust (IBIT) in the latest quarterly disclosure detailing the endowment’s U.S.-listed holdings.

The university now reports owning 6.8 million IBIT shares in Q3, a sharp rise from the 1.9 million shares reported in June — a staggering 257% jump. The move pushes IBIT ahead of Harvard’s previously dominant positions in Microsoft, Amazon, and even the SPDR Gold Trust, making Bitcoin the largest declared U.S. investment in the world’s biggest academic endowment.

At the end of the reporting period, the position was valued at $442.8 million, though IBIT’s recent price decline has brought that figure closer to $364.4 million. The filings don’t reveal how much Harvard spent accumulating these shares, nor whether the purchases occurred gradually or in major blocks. Still, even this large position represents only a small slice of Harvard’s $57 billion endowment.

Harvard’s move stands out in the institutional investment landscape, where endowments rarely allocate to ETFs directly — and almost never to Bitcoin exposure. The substantial allocation underscores the growing acceptance of regulated crypto investment vehicles among top-tier institutions.

More Universities Step In

Harvard isn’t alone. Emory University, the first U.S. academic institution to disclose spot Bitcoin ETF holdings, also expanded its crypto exposure. As of Sept. 30, Emory holds:

  • 1M+ shares of Grayscale’s Bitcoin Mini Trust (BTC) — a 91% increase from June

  • 4,450 shares of BlackRock’s IBIT, unchanged from previous filings

Altogether, Emory’s crypto ETF positions total $42.9 million.

University filings suggest a growing comfort with Bitcoin ETFs over direct crypto custody. As one Emory accounting professor noted earlier this year, working with established ETF issuers reduces operational and security concerns compared to managing private keys directly.

Sovereign Wealth Funds Join the Wave

It’s not just universities making moves. In a new filing, Al Warda Investments, a sovereign wealth fund in Abu Dhabi, disclosed 7.96 million IBIT shares, worth $517.6 million at quarter’s end — up from 2.4 million shares in June, a 230% increase.

Al Warda operates under the Abu Dhabi Investment Council, part of the massive Mubadala investment network. Its rapidly expanding position marks one of the largest sovereign Bitcoin ETF allocations yet reported.