Harvard discloses $116.7M exposure to Bitcoin via BlackRock’s IBIT ETF

Harvard Management Co. (HMC) reported a position in BlackRock’s iShares Bitcoin Trust (IBIT) worth $116,666,260.

According to a Form 13F filed with the US Securities and Exchange Commission (SEC) on August 8, HMC had 1,906,000 shares of IBIT as of June 30.

Based on the values shown on the same page, the Bitcoin allocation represents roughly 8% of the filing’s reported portfolio worth over $1.4 billion, placing it in the same tier as several of Harvard’s largest US-listed holdings.

Notably, HMC now holds more Bitcoin than gold, as its shares of SPDR Gold Trust were priced at approximately $102 million at the end of the second quarter.

The portfolio snapshot is notably selective and concentrated in mega-cap names. Microsoft appears at about $310 million, Amazon near $235 million, Booking Holdings around $182 million, Meta roughly $120 million, Alphabet close to $114 million, and Nvidia about $104 million.

The filing offers the clearest on-the-record sign yet of Harvard’s progression from exploratory crypto exposure to a visible, sized allocation within its US-reportable assets. 

Harvard has reportedly engaged with digital assets over multiple years. The institution was among the early university investors allocating to crypto-focused venture funds in 2018.

Furthermore, a 2019 SEC filing for Blockstack’s qualified token sale documented purchases of Stacks (STX) tied to a fund whose limited partners included Harvard affiliates. Lastly, reports from 2021 2021 indicated Harvard had been buying crypto directly through exchange accounts. 

The IBIT stake formalizes that arc by placing spot Bitcoin exposure in the same table as Harvard’s blue-chip equities and gold.

Form 13F covers only specific US-listed securities and does not represent Harvard’s entire portfolio, but the composition is instructive. 

By adding IBIT at roughly 8% of reported holdings, Harvard has elevated Bitcoin to a core component of its public-markets book for this quarter.

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