TheBlock
Harvard Management Company reported an unchanged 3,044,612-share position in BlackRock's iShares Bitcoin Trust (IBIT), worth $101.4M at June 30 and matching its March 31 share count. That paused two quarters of selling, including a 43% cut in the prior quarter, while the stake's value fell $15.6M as IBIT declined.
Harvard had exited its $86.8M spot Ether ETF position and held more gold exposure than Bitcoin funds: $171.2M in IAU and GLD versus $101.4M in IBIT. The 13F covers directly held U.S.-listed securities, not most of the roughly $57B endowment.
Institutional positions were mixed. Mubadala and ADIC held about $764M of IBIT without changing share counts from March 31, JPMorgan added, and Morgan Stanley trimmed 4.5%. Bitcoin traded near $63,000, down nearly 30% year-to-date and about half its October 2025 high.
Frequently asked questions
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Why did Harvard's IBIT position lose value despite unchanged shares?
Harvard reported the same 3,044,612-share count, while IBIT's price decline reduced the position's value by $15.6M.
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How did Harvard's gold exposure compare with its Bitcoin ETF stake?
Harvard held $171.2M in IAU and GLD, exceeding its $101.4M IBIT position.
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What does Harvard's 13F filing exclude?
It covers directly held U.S.-listed securities but excludes private funds that account for most of the university's roughly $57B endowment.
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What did Abu Dhabi's Mubadala and ADIC report about IBIT?
The two funds held about $764M of IBIT at June 30 and left their share counts unchanged from March 31.
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Which major banks changed their IBIT positions in Q2?
JPMorgan added to IBIT, while Morgan Stanley trimmed its share count by 4.5%.
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