Harvard Management Company reduced its Bitcoin holdings by approximately 21% in the fourth quarter of fiscal year 2025, trimming shares in BlackRock’s iShares Bitcoin Trust from 6.81 million to 5.35 million. Simultaneously, Harvard made its first public investment in Ethereum by purchasing 3.87 million shares of BlackRock’s iShares Ethereum Trust, valued at around $86.8 million as of December 31. Despite the reduction, Bitcoin remains Harvard’s largest publicly disclosed equity investment, surpassing stakes in major tech firms like Alphabet, Microsoft, and Amazon. The combined investment in these two cryptocurrency funds totaled $352.6 million. These moves occurred amid significant volatility in digital currency markets, with Bitcoin peaking near $126,000 in October 2025 before falling to $88,429 by year-end, while Ethereum’s price dropped roughly 30% during the same period. Some financial experts, including former University of Washington professor Andrew F. Siegel, criticized Harvard’s Bitcoin exposure as risky due to its lack of intrinsic value and high price fluctuations. Additionally, Harvard expanded investments in other sectors, such as a $141 million stake in Union Pacific, and strengthened positions in technology companies including Google, Broadcom, and Taiwan Semiconductor Manufacturing Company. These adjustments reflect Harvard’s strategy to diversify and adapt its portfolio to changing market conditions.
Source: bitcoinmagazine
