Harvard is buying the dip in cryptocurrencies.
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.
