#HarvardAddsETHExposure
Harvard University's endowment fund has made a significant move in the crypto space! They've reduced their Bitcoin exposure by 21% and invested $86.8 million in Ethereum through BlackRock's iShares Ethereum Trust. This marks their first publicly disclosed investment in Ethereum.
*Key Highlights:*
- *Bitcoin Reduction:* Harvard trimmed its Bitcoin ETF shares from 6.81 million to 5.35 million, valued at $265.8 million.
- *Ethereum Investment:* They acquired 3.87 million shares of iShares Ethereum Trust, worth $86.8 million.
- *Total Crypto Exposure:* Combined crypto holdings now total $352.6 million, about 1% of Harvard's $56.9 billion endowment.
This strategic shift suggests Harvard is diversifying its crypto portfolio, acknowledging Ethereum's growing importance. Some academics have questioned this move, citing crypto's volatility and lack of intrinsic value.
