Harvard Management Company, overseeing the largest U.S. university endowment valued at $53.2 billion, has acquired a significant stake of approximately 1.9 million shares in BlackRock’s iShares Bitcoin Trust (IBIT). This position represents an investment exceeding $116 million at current valuations, highlighting growing institutional confidence in cryptocurrency-backed financial products.
BlackRock’s Bitcoin ETF has experienced substantial growth since securing approval from the U.S. Securities and Exchange Commission (SEC) over a year ago, accumulating over $86 billion in net assets. Harvard’s investment marks a continuation of its strategic approach, which has included evaluating potential crypto opportunities since 2018.
The move coincides with regulatory developments aimed at increasing market accessibility. The SEC recently permitted a higher number of options contracts for exchange-traded funds, potentially boosting derivative trading and demand for products like Bitcoin ETFs. This broader access further underscores the maturing institutional interest in digital assets represented by major players like Harvard and asset management giant BlackRock.