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Harvard University significantly increased its stake in the iShares Bitcoin Trust ETF (NASDAQ:IBIT), according to the latest 13F filing released on Friday.
Harvard Management Company, a wholly-owned subsidiary of Harvard University that manages its endowment, pension assets, and other financial assets, reported holding 6,813,612 shares of IBIT as of Sept. 30, a 257% jump from the previous quarter.
IBIT holdings made up 21% of Harvard’s investment portfolio, making it the fifth-biggest investment after Microsoft Corp. (NASDAQ:MSFT) and Amazon.com Inc. (NASDAQ:AMZN).
The stake was worth $442.88 million based on IBIT’s price of $65 on Sept. 30.
Bloomberg analyst Eric Balchunas noted that it’s “rare” for an endowment, especially from universities like Harvard and Yale, to invest in exchange-traded funds.
“It’s as good a validation as an ETF can get,” Balchunas stated.
The iShares Bitcoin Trust, which debuted in January 2024, has emerged as a significant player in the ETF industry.
The fund has attracted nearly $27 billion this year, placing it among the top six ETFs by inflows, according to TradingView. It had $75 billion in assets under management as of this writing
Price Action: Shares of IBIT closed 3.80% lower at $53.48 during Friday’s regular trading session, according to data from Benzinga Pro.
Benzinga’s proprietary Edge Rankings show Momentum as the strongest category for IBIT at 44.33/100. To see how the stock ranks for Value, Growth and other indicators, click here.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
