Morning Minute: Harvard Sells Bitcoin for Ethereum
Harvard has reduced its holdings in BlackRock’s iShares Bitcoin Trust (IBIT), selling 1.46 million shares and lowering its position to about $265 million. Simultaneously, Harvard initiated a new position in BlackRock’s iShares Ethereum Trust, buying nearly 3.9 million shares worth approximately $86.8 million. Their total spot crypto ETF exposure now exceeds $352 million. This move marks a capital rotation from Bitcoin (BTC) to Ethereum (ETH). Analysts suggest that Harvard views ETH as undervalued compared to BTC and is recalibrating towards assets with broader return drivers. Bitcoin is considered a primary store-of-value asset, while Ethereum offers exposure to a broader smart-contract ecosystem and is seen as a productive, infrastructure-based asset. The shift reflects ETH’s growing status as a top institutional asset alongside BTC, with major institutions now tracking their relative performance and allocating portfolios accordingly.
