Harvard Endowment Takes Rare Leap Into Bitcoin With $443M Bet on BlackRock's IBIT

Harvard University's endowment has invested $443 million in BlackRock's iShares Bitcoin Trust (IBIT), marking its largest known equity position in a single asset. This investment represents over 20% of the endowment's reported U.S.-listed public equity holdings, a significant move considering that institutional investors generally avoid exchange-traded funds (ETFs) in favor of private equity and real estate. Although bitcoin's price has recently dropped by more than 5%, IBIT remains the largest spot bitcoin ETF globally, with nearly $75 billion in net assets. The Harvard endowment, which has a total value exceeding $55 billion, sees this investment as a strategic diversification, yet it constitutes less than 1% of their total assets. The move comes during a challenging time for cryptocurrencies, as the market sentiment has turned to 'extreme fear' following significant price declines.

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