Harvard University Invests $116 Million Into Bitcoin Through BlackRock ETF
The post Harvard University Invests $116 Million Into Bitcoin Through BlackRock ETF appeared on BitcoinEthereumNews.com. Harvard University made headlines this week after revealing a massive $116 million investment in Bitcoin through BlackRock’s popular exchange-traded fund. The prestigious university’s endowment fund now holds nearly 2 million shares of the iShares Bitcoin Trust, making it one of the biggest Bitcoin investments by any American university. The investment details came out in a regulatory filing submitted to the Securities and Exchange Commission on August 8. Harvard Management Company, which runs the university’s $53.2 billion endowment, disclosed holding 1.9 million shares of BlackRock’s IBIT fund as of June 30. Bitcoin Becomes Harvard’s Fifth-Largest Investment The Bitcoin investment now ranks as Harvard’s fifth-largest public stock holding. Only four tech giants sit ahead of it: Microsoft, Amazon, Booking Holdings, and Meta. The Bitcoin position even beats out Google’s parent company Alphabet by about $3 million. What makes this move even more striking is that Harvard now holds more Bitcoin exposure than gold. The university’s gold holdings through the SPDR Gold Trust are worth roughly $102 million, about $14 million less than its Bitcoin stake. Source: Sec.gov The Bitcoin allocation represents about 8% of Harvard’s publicly reported portfolio, which totals over $1.4 billion. However, this only covers certain U.S.-listed securities and doesn’t include Harvard’s entire investment portfolio, which spans real estate, private equity, and other assets. Harvard’s Long History with Cryptocurrency Harvard’s Bitcoin investment didn’t come out of nowhere. The university has been exploring cryptocurrency for years, dating back to at least 2018 when several major universities started investing in crypto-focused venture funds. In 2019, Harvard made headlines by investing $5-10 million directly in Blockstack cryptocurrency tokens. Sources also reported that Harvard had been buying Bitcoin directly on exchanges since 2019, along with other Ivy League schools like Yale and Brown. Robert Kaplan, a Harvard business professor, previously explained the university’s approach…
The post Harvard University Invests $116 Million Into Bitcoin Through BlackRock ETF appeared on BitcoinEthereumNews.com.
Harvard University made headlines this week after revealing a massive $116 million investment in Bitcoin through BlackRock’s popular exchange-traded fund. The prestigious university’s endowment fund now holds nearly 2 million shares of the iShares Bitcoin Trust, making it one of the biggest Bitcoin investments by any American university. The investment details came out in a regulatory filing submitted to the Securities and Exchange Commission on August 8. Harvard Management Company, which runs the university’s $53.2 billion endowment, disclosed holding 1.9 million shares of BlackRock’s IBIT fund as of June 30. Bitcoin Becomes Harvard’s Fifth-Largest Investment The Bitcoin investment now ranks as Harvard’s fifth-largest public stock holding. Only four tech giants sit ahead of it: Microsoft, Amazon, Booking Holdings, and Meta. The Bitcoin position even beats out Google’s parent company Alphabet by about $3 million. What makes this move even more striking is that Harvard now holds more Bitcoin exposure than gold. The university’s gold holdings through the SPDR Gold Trust are worth roughly $102 million, about $14 million less than its Bitcoin stake. Source: Sec.gov The Bitcoin allocation represents about 8% of Harvard’s publicly reported portfolio, which totals over $1.4 billion. However, this only covers certain U.S.-listed securities and doesn’t include Harvard’s entire investment portfolio, which spans real estate, private equity, and other assets. Harvard’s Long History with Cryptocurrency Harvard’s Bitcoin investment didn’t come out of nowhere. The university has been exploring cryptocurrency for years, dating back to at least 2018 when several major universities started investing in crypto-focused venture funds. In 2019, Harvard made headlines by investing $5-10 million directly in Blockstack cryptocurrency tokens. Sources also reported that Harvard had been buying Bitcoin directly on exchanges since 2019, along with other Ivy League schools like Yale and Brown. Robert Kaplan, a Harvard business professor, previously explained the university’s approach…
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