
Harvard hit the eject button
Harvard Management Company, the university’s money machine, told the market in its latest 13F filing that it chopped its stake in the iShares Bitcoin Trust ETF (IBIT) to 3.04 million shares from 5.35 million. At March 31 prices, that was still a chunky $116.97 million position — just not the biggest thing in the portfolio anymore.
ETHA got the full goodbye
The bigger head-scratcher? Harvard also completely sold out of its iShares Ethereum Trust ETF (ETHA) position. That’s a pretty quick courtship: Harvard only started buying ETHA in the fourth quarter of 2025, then yeeted it out the door by the end of Q1.
Why investors should care
This isn’t about one university playing crypto-day-trader. It’s a reminder that even the suits with the biggest balance sheets aren’t immune to the broader crypto slump.
- IBIT was down 22.17% in Q1
- ETHA fell 29.42% in Q1
- Harvard’s IBIT stake fell from its top portfolio slot to 10th place
If institutions keep trimming instead of adding, crypto ETF inflows can get a little less “new asset class” and a lot more “what happened to the easy money?” Big picture: when a school famous for patient capital starts shrinking its Bitcoin exposure, the vibe in crypto land is clearly not euphoric.
