Harvard is buying the dip in cryptocurrencies.
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The endowment of the highly regarded university has opened a new position in Ethereum (ETH). A filing with the U.S. Securities and Exchange Commission (SEC) shows that Harvard’s $56.9 billion endowment made its first foray into Ethereum in the fourth quarter of 2025.
The Harvard endowment bought 3.9 million shares of BlackRock’s (BLK) iShares Ethereum Trust (ETHA), valued at about $87 million. The new position was opened as the price of ETH and other cryptocurrencies declined sharply since mid-October of last year.
Harvard Sells Bitcoin
The latest SEC filing shows that Harvard’s endowment also boosted investments in chipmakers Broadcom (AVGO) and TSMC (TSM), as well as Google’s parent company Alphabet (GOOGL) and railroad operator Union Pacific (UNP) during the final months of 2025.
Harvard trimmed its existing stakes in Amazon (AMZN), Microsoft (MSFT), and Nvidia (NVDA). It also cut its exposure to Bitcoin (BTC) during Q4 2025. The endowment lowered its stake in the iShares Bitcoin Trust (IBIT) by 21%, selling 1.5 million shares. However, the Bitcoin exchange-traded fund (ETF) remains Harvard’s largest holding at $265.8 million.
Some students and market observers have criticized Harvard’s endowment fund for holding volatile Bitcoin as its largest position. Currently trading at $68,000, Bitcoin’s price has been nearly cut in half from an all-time high of $126,000 reached last October.
Is Bitcoin a Buy?
Most analysts don’t offer ratings or price targets on Bitcoin. So instead, we’ll look at the three-month performance of BTC. As one can see in the chart below, the price of Bitcoin has declined 25% in the last 12 weeks.
