Harvard Management Company has reduced its position in BlackRock‘s iShares Bitcoin Trust (IBIT) by approximately $72 million and opened a new $86.8 million stake in the iShares Ethereum Trust (ETHA), according to an SEC Form 13F filing dated February 13, covering the quarter ended December 31, 2025.
The disclosure reveals that Harvard’s $57 billion endowment trimmed its IBIT holdings to 5,353,612 shares, valued at $265.8 million at year-end prices, based on IBIT’s December 31 close of $49.65. The university simultaneously initiated a 3.87 million-share position in ETHA, valued at $86.8 million. It marks Harvard’s first disclosed allocation to a spot Ethereum ETF since those products launched in the United States in mid-2024.
Bitcoin Still Leads, But Ethereum Gets a Seat at the Table
Despite the rotation, Bitcoin remains Harvard’s largest single disclosed equity holding in its 13F portfolio, exceeding positions in Google, Microsoft, and Amazon. Combined crypto exposure across both ETFs now sits at $352.6 million, representing roughly 12.8% of Harvard’s reportable U.S. equity holdings.
That is not a speculative allocation. For a conservative endowment of this scale, a position that size signals considered, structural conviction in digital assets as an asset class rather than an experimental side bet.
The trim in IBIT was approximately 21% of Harvard’s prior stake. The capital was not pulled from crypto entirely; it was redistributed within it. That distinction matters when reading the direction of institutional sentiment.
Broader Institutional Ethereum Momentum
Harvard’s move lands inside a broader pattern of institutional capital flowing toward Ethereum. BitMine disclosed last week that it purchased 50,928 ETH at $1,976, bringing its total holdings to 4,473,587 ETH with total assets of $9.9 billion as of March 1, 2026. Shares in the company rose following the announcement.
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Fidelity, which manages $5.9 trillion in assets, recently launched its own stablecoin built on the Ethereum network, joining a growing list of traditional finance firms deploying products on the same infrastructure. On-chain analysis of whale activity and real-world asset flows also points to sustained accumulation during recent price pullbacks.
The pattern forming across institutional portfolios reflects a working thesis: Bitcoin as a macro reserve asset, Ethereum as the primary infrastructure layer for financial products and programmable capital.
Where Prices Stand
Bitcoin was trading near $69,300 at the time of reporting, down sharply from its October 2025 high of $126,000. The $60,000 to $62,000 zone has held as structural support. A break below that range would bring $52,000 into focus. To the upside, $72,000 is the first meaningful resistance level; clearing it with volume would likely open a path toward $80,000.
Ethereum traded just above $2,000 following a roughly 30% correction in Q4 2025. The $1,800 level is the key support line the market is watching.
The total crypto market cap climbed 2.6% overnight and moved back above $2.4 trillion, with both assets reclaiming their respective key price levels in the same window that Harvard’s filing drew attention.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial or investment advice.
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