Harvard University Significantly Expands Bitcoin ETF Exposure Despite Market Outflows

Harvard University has sharply increased its exposure to Bitcoin ETFs, signaling long-term confidence even as the broader market faces heavy withdrawals. A recent filing shows that the prestigious institution boosted its holdings of BlackRock’s spot Bitcoin ETF (IBIT) by an impressive 257%. As of September 30, Harvard owned 6.81 million IBIT shares valued at approximately $442.8 million, a substantial jump from the 1.9 million shares it held in June.

Harvard also increased its allocation to gold-backed ETFs, nearly doubling its position in SPDR Gold Shares (GLD). The university reported holding 661,391 GLD shares worth about $235 million, marking a 99% rise compared to the previous quarter. These moves suggest that Harvard is taking a strategic approach, balancing digital and traditional stores of value despite short-term volatility across both markets.

The timing is notable, especially considering earlier skepticism from Harvard-linked economists. In 2018, one prominent voice predicted Bitcoin was more likely to crash to $100 than reach $100,000 by 2028—yet the cryptocurrency has already surged past $120,000 ahead of that timeline. With its latest allocation, Harvard now ranks among the top 30 institutional holders of IBIT, a shift that could encourage other endowments traditionally wary of ETF-based crypto exposure.

Harvard isn’t alone in increasing its digital asset positions. Al Warda Investments also ramped up its IBIT holdings by 230%, bringing its total to 7.96 million shares valued at roughly $517.6 million.

Meanwhile, the broader Bitcoin ETF market is experiencing notable outflows. Data from SoSoValue shows another $492 million exiting BTC funds yesterday, following a massive $869.9 million withdrawal the previous day—now the second-largest since Bitcoin ETFs launched. This pressure has pushed Bitcoin’s price down 1.24% in the past 24 hours to around $96,261, after briefly dipping to $95,000.

Still, long-term indicators remain strong. Bitcoin ETFs have accumulated over $60 billion in net inflows since early 2024, with trading volume surpassing $1.5 trillion. BlackRock’s IBIT alone accounts for more than half of the U.S. Bitcoin fund market. While Ethereum funds continue to see significant outflows, Solana and XRP ETFs remain among the few still drawing fresh capital.