What to know:
- Harvard University cut IBIT shares by almost 43% (3,044,612 shares), which were estimated at approximately $117 million, thus exiting the Ethereum ETF.
- Harvard University had already decreased IBIT by 21% and sold out its position on an Ethereum ETF amounting to $86.8 million.
- Mubadala Investment Company raised its IBIT share position to 14,721,917 units with a value of approximately $566 million due to varying institutional repositions.

Harvard Endowment has significantly reduced its exposure, with Harvard University exiting its Ethereum ETF position while also trimming its cryptocurrency ETF holdings, according to released SEC 13F filings. The institution lowered its holdings in BlackRock’s iShares Bitcoin Trust ETF by nearly 43%, cutting its position to 3,044,612 shares valued at approximately $117 million during the reporting period.
The latest reduction followed a previous decrease reported during the fourth quarter of 2025, when Harvard trimmed its IBIT holdings by roughly 21%. The filing also revealed that the university completely exited its position in BlackRock’s iShares Ethereum Trust ETF, liquidating shares previously valued between $86.8 million and $87 million before the first-quarter adjustment period.
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Institutional Investors Rebalance Ethereum ETF Exposure
Mubadala Investment Company increased its investment in Bitcoin ETF during the same quarter. The company raised its IBIT shareholdings to 14,721,917 units with an estimated value of $566 million, compared to 12,702,323 reported at the end of Q4 2025.
These adjustments were made during re-positioning in response to fluctuations in the market and Bitcoin being traded below $78,000. In a filing dated May 14, Harvard Management Company reported that Harvard University reduced its investment in the Bitcoin ETF while selling out its entire investment in its Ethereum ETF position.
Other U.S. university endowments also disclosed changes to their cryptocurrency-related investments through recent SEC filings. Dartmouth College maintained its shareholding of 201,531 units in BlackRock iShares Blockchain and Tech ETF with an estimated valuation of more than $9 million. The college replaced Ethereum shares with shares in the Grayscale Ethereum Staking ETF and purchased 304,803 shares in the Bitwise Solana Staking ETF.
University Endowments Maintain Crypto Market Exposure
Brown University retained its existing 212,500 shares in the iShares Blockchain ETF without reporting changes during the quarter. Meanwhile, Emory University streamlined its Bitcoin-related exposure by exiting a smaller IBIT position while increasing holdings in the Grayscale Bitcoin Mini Trust to 1,354,148 shares, according to the latest institutional investment disclosures.
According to Harvard University’s Q4 2025 filing, the university initially owned approximately 5.35 million IBIT shares, amounting to $265.8 million. However, institutional investments in ETFs and Ethereum ETF products remain popular despite recent adjustments due to fluctuating prices.
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