Harvard Management Company Acquires $116 Million in Bitcoin Shares
Harvard Management Company, managing a $53 billion endowment, disclosed in an SEC filing ownership of 1.9 million shares in BlackRock’s iShares Bitcoin Trust (IBIT). This investment is valued at approximately $116 million, ranking Bitcoin as the university's fifth-largest holding, surpassing companies like Alphabet.
Key points include:
- Harvard's investment signals increasing acceptance of digital assets in traditional portfolios.
- University endowments are typically conservative regarding ETFs linked to cryptocurrencies.
- BlackRock’s IBIT has rapidly attracted significant assets since its launch.