Harvard Dumps Ethereum ETF, Cuts Bitcoin ETF Stake by 43% in Q1 2026

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Harvard Dumps Its <a href="https://jpykr.com/eth-usd/">Ethereum</a> and <a href="https://investment-policy.com/btc-usd/">Bitcoin</a> ETF Investment

As a researcher tracking investment trends, I’ve noticed some significant changes in Harvard University’s endowment portfolio. According to a recent filing, they reduced their holdings in the BlackRock spot Bitcoin ETF by about 43% in the first quarter of 2026. They also completely sold off their position in the BlackRock spot Ethereum fund during that same period.

Looking at the latest 13F filings, I’ve noticed a pullback from some investors. Interestingly, while some were retreating, Abu Dhabi’s Mubadala actually increased their position in IBIT by 16%, bringing their total stake to around $566 million.

Harvard’s Crypto Bet Didn’t Age Well

As of March 31st, Harvard Management Company reported owning 3,044,612 shares of the iShares Bitcoin Trust (IBIT), valued at approximately $117 million. This information was disclosed in their first-quarter 2024 filings with the Securities and Exchange Commission (SEC) on the EDGAR database.

Scores fell significantly, dropping 43% from the previous quarter and marking a considerable decline from their highest point. The endowment initially invested in IBIT in mid-2025, purchasing approximately 1.9 million shares at a cost of around $117 million.

The endowment grew to approximately $443 million by the third quarter of 2025. It then decreased by 21% in the fourth quarter, followed by a more significant 43% reduction in the first quarter of 2026.

Harvard University recently sold its entire $86.8 million investment in the BlackRock spot Ethereum ETF (ETHA), despite only purchasing it three months prior.

The complete withdrawal of funds from ETH happened after ETHA experienced a significant decline in value during early 2026, which led to its brief inclusion in the endowment being cut short.

Harvard University’s endowment fund has significantly reduced its investments in two popular exchange-traded funds (ETFs). According to filings with the Securities and Exchange Commission (SEC) for the first quarter of 2026, Harvard sold off all of its shares in an Ethereum ETF and decreased its holdings in the iShares Bitcoin Trust (IBIT) by 43%, leaving it with approximately 3.04 million shares worth around $117 million. This follows a 21% reduction in the IBIT stake during the previous quarter. The fund also completely divested from an $86.8 million position in…

— Wu Blockchain (@WuBlockchain) May 17, 2026

The iShares Core S&P 500 ETF (IBIT) is no longer the biggest stock Harvard publicly owns. Recent reports show that Harvard now holds more shares of companies like TSMC, Alphabet, Microsoft, and the SPDR Gold Trust than it does of IBIT.

The shift suggests rebalancing toward traditional assets rather than a full crypto withdrawal.

Mubadala Doubles Down on Bitcoin as Endowments Hesitate

Harvard reduced its investment, but Mubadala increased its holdings of the iShares Bitcoin Trust (IBIT) to 14,721,917 shares, valued at approximately $566 million. This is an increase from the 12,702,323 shares they held at the end of 2025. The Abu Dhabi-based fund has been consistently adding to its Bitcoin ETF investment each quarter since the last three months of 2024.

Major news: Mubadala, the massive sovereign wealth fund of Abu Dhabi, has reported a $566 million investment in the iShares Bitcoin Trust ($IBIT). They increased their holdings by 16% last quarter, growing their position from 12.7 million shares to 14.7 million. Mubadala invests with a very long-term outlook, typically spanning 30 to 50 years, and focuses on…

— Milk Road (@MilkRoad) May 15, 2026

This trend reflects a larger pattern seen in recent investment activity. While sovereign wealth funds and large banks are increasing their investments, some university endowments and trading companies are choosing to sell holdings or shift their focus elsewhere.

In the first quarter of the year, Jane Street significantly reduced its holdings of the iShares Bitcoin Trust (IBIT) by 71% and the Fidelity Bitcoin Trust (FBTC) by 60%. However, the firm increased its investments in Ether-based trusts like ETHA and Fidelity’s FETH, suggesting they are shifting their investment strategy rather than completely selling off their positions.

Emory University sold its direct holdings of Bitcoin and now invests in Bitcoin solely through the Grayscale Bitcoin Mini Trust.

Over the past quarter, JPMorgan significantly increased its investment in its Bitcoin fund, with a 174% jump. Wells Fargo also grew its position in Ethereum ETFs during that time.

As a crypto investor, I’m seeing a really interesting situation right now. It looks like both big institutions and those betting against them are heavily involved, which makes it tough to get a clear picture of what the first quarter filings actually mean. It’s not a simple ‘bullish’ or ‘bearish’ story – there’s a lot of conflicting money at play.

What Q2 Filings May Reveal

Harvard hasn’t publicly stated why it made these investment changes, and official filings don’t offer any explanation. This recent activity might indicate:

  • Portfolio rebalancing
  • Liquidity demands tied to private-market capital calls, or
  • Tactical de-risking.

Those drivers often sit behind cuts at large university endowments.

The endowment still holds around $117 million in Bitcoin ETFs, meaning it hasn’t sold off all of its crypto holdings. Future financial reports, expected in August, will show if Harvard plans to further reduce, maintain, or increase this investment.

We’ll also see if Mubadala continues its pattern of increasing its holdings for the seventh quarter in a row.

Investors are looking at Harvard’s recent actions to get a sense of how people feel about crypto, but they also need to consider the investments made by sovereign wealth funds. The latest financial reports show that institutional investors have very different levels of confidence in current crypto products.

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2026-05-17 14:07