Harvard Boosts IBIT Stake to $442.8M in Major Q3 Crypto Move

Harvard University made one of its boldest digital-asset moves yet in Q3 2025. It massively increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT). The university’s latest SEC filing shows that its endowment more than tripled its exposure to Bitcoin ETFs during the quarter. They are securing their position as one of the largest institutional holders of IBIT.

Harvard Adds $326M in IBIT as Bitcoin Volatility Rises

Harvard Management Company, which oversees the school’s $53 billion endowment, added $326 million worth of IBIT in Q3. This lifts its total holdings to 6.8 million shares valued at $442.8 million. The stake reflects a 257% increase from the previous quarter. When Harvard held just under $117 million in IBIT. This jump came during a volatile stretch for Bitcoin, with prices swinging between $55,000 and $70,000. 

Despite the choppy market, Harvard leaned into the asset and made the Bitcoin ETF its largest reported position in the quarter. Analysts called the move “rare” for a U.S. endowment. Especially one of Harvard’s size and reputation. IBIT is now Harvard’s biggest single position in its 13F filing. It is surpassing shares of Microsoft, Amazon and even gold.

IBIT Now Harvard’s Top Holding, Surpassing Tech Giants

Harvard’s $442.8 million IBIT stake now ranks above its holdings in Microsoft ($322.8 million), Amazon ($235.1 million), and Alphabet ($157 million). Only gold comes close, with the university more than doubling its SPDR Gold Shares (GLD). Which position to $235.1 million in the same quarter. This reshuffling shows a clear shift in how the endowment views digital assets. 

Bitcoin now sits ahead of some of the world’s largest companies in Harvard’s portfolio weighting. A striking change compared to the cautious approach most endowments still take toward crypto. Even with the large allocation, IBIT represents less than 1% of the total endowment. But in institutional terms, the size is meaningful enough to place Harvard among the top 20 holders of the ETF.

Signals Growing Institutional Confidence in Bitcoin ETFs

Harvard’s expansion into Bitcoin ETFs adds to a trend. That began after U.S. regulators approved spot Bitcoin ETFs in early 2024. Many institutions were hesitant at first. But filings throughout 2025 show that adoption has been steadily rising. Harvard’s position is especially symbolic. University endowments typically move slowly and avoid high-volatility assets unless they see long-term structural value. 

Harvard’s aggressive ramp-up is being viewed as validation for Bitcoin ETFs. Both for their liquidity and for their fit within traditional portfolios. Industry commentators noted that getting an endowment to “bite on an ETF” is unusually difficult. Harvard doing so at scale sends a strong message about institutional sentiment.

Outlook: More Endowments May Follow

With Harvard is now making Bitcoin one of its largest public-market positions. The market watchers expect other endowments and pension funds to reconsider their stance. Many have exposure to gold, equities and infrastructure. But crypto allocations remain rare. Harvard’s move suggests this could be changing.

As Bitcoin continues to mature and ETF products become more familiar. More institutional players may feel comfortable taking similar steps. Currently, though, Harvard stands out not just for the size of its investment. But for the signal it sends across Wall Street and academia alike.