- Harvard boosts BlackRock Bitcoin ETF holdings by 257%, now worth $442.8 million.
- The university nearly doubles its gold ETF exposure, showing a diversified alternative strategy.
Amidst the market volatility that has led to widespread investor withdrawals, Harvard University has radically increased its exposure to crypto-assets by more than 250% in the case of its Bitcoin ETF. The billionaire college’s daring maneuver is a clear indication that institutional investors are becoming more and more confident in the crypto space, whereas retail investors continue to panic and sell off their holdings in BTC-priced ETFs.
Institutional Confidence Grows Amid Retail Panic
Harvard’s most recent regulatory filing indicates that the prestigious university has increased its holding of shares in BlackRock’s spot Bitcoin ETF to 6.81 million. The stake, which was worth $442.8 million as of September 30, is a substantial 257% increase from the 1.9 million shares that were held in June.
The university also raised its metals-for-cash commitment almost to the point of doubling its gold ETF holdings with 661,391 shares valued at $235 million. The 99% increase in this instance clearly indicates a broader alternative asset strategy beyond just the crypto market.
Harvard’s bold move goes against the university’s previously crypto-skeptical stance. Back in 2018, a university economist forecasted that Bitcoin would most likely crash to $100 rather than reach $100,000 by 2028. Just to remind you, Bitcoin later went on to exceed $120,000, thereby proving that bearish prediction wrong way ahead of time.
The huge spending move Harvard up to the 30 largest institutional holders of BlackRock’s IBIT fund. Eric Balchunas, a Bloomberg analyst, tweeted that university endowments usually do not invest through ETFs, so Harvard’s decision is a very heavy signal for other institutions to follow.
Another significant entity, Al Warda Investments, has increased its position in the Bitcoin fund by purchasing 7.96 million IBIT shares worth $517.6 million. This is 2.3 times more than the position in June and is therefore a strong signal of the trend of institutional accumulation despite the anxiety of retail investors.
Market Is Under Substantial Pressure to Flow Out
For the third consecutive day, Bitcoin ETFs had less money in them, with a total of $492 million leaving the funds during the trading session on Thursday. The day before, there were outflows of $869.9 million, which is the second-largest single-day withdrawal of the products since their inception.
The pressure of the selling forced Bitcoin to decline by 1.24% to $96,261 within 24 hours. The digital coin market was at $95,000 for a short time, and then it recovered slightly from that level.
As a matter of fact, long-term indicators are still positive despite the current volatility. Bitcoin ETFs have been bringing in more than $60 billion in net inflows since they were launched in early 2024. BlackRock’s IBIT is the one that holds more than half the total U.S. market share of Bitcoin funds at the moment.
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Source: https://thenewscrypto.com/harvard-triples-bitcoin-etf-investment-despite-market-turbulence/
