Harvard Management Company, which manages Harvard University's endowment, cut its holdings of bitcoin exchange-traded funds by more than one-fifth in the fourth quarter. At the same time, it invested in an ethereum ETF for the first time, The Block reported on Feb. 16 local time.
As a result, Harvard Management Company now holds a total of $352.6 million across the two cryptocurrencies.
A filing with the Securities and Exchange Commission showed Harvard held 5.35 million shares of BlackRock's iShares Bitcoin Trust as of Dec. 31. They were worth $265.8 million. That was down 1.48 million shares from the previous quarter, when Harvard held 6.81 million shares valued at $442.8 million.
Over the same period, Harvard newly bought 3.87 million shares of BlackRock's iShares Ethereum Trust. The investment was $86.8 million. This is the first time Harvard Management Company has invested in an ethereum fund.
Holdings fell, but bitcoin remains the largest position among the stocks Harvard holds publicly. Harvard's bitcoin holdings exceed its stakes in Alphabet, Microsoft and Amazon combined.
Chi-gyu Hwang
delight@d-today.co.kr