Harvard Management Company trimmed its Bitcoin ETF stake and shifted capital into Ethereum during Q4 2025, according to its latest SEC Form 13F — a move that looks more like a portfolio rotation than a retreat from crypto. What changed - Q3 2025: Harvard was an aggressive buyer of Bitcoin exposure, adding $318.99 million to the iShares Bitcoin Trust (IBIT). - Q4 2025: The firm cut its IBIT holding by $72.49 million, making the Bitcoin ETF one of its largest sales by value that quarter. - At the same time, Harvard added $86.82 million to the iShares Ethereum Trust (ETHA), ranking the Ethereum ETF among its top buys for Q4. (Figures and filing details compiled from the SEC 13F and 13radar.) Market backdrop - Late 2025 saw sustained outflows from U.S. spot crypto ETFs, adding pressure to institutions’ positioning: - Bitcoin spot ETFs recorded monthly net outflows of $677.98 million, with total net assets falling to about $87.04 billion as BTC slid toward the high-$60,000s. - Ethereum spot ETFs posted monthly net outflows of $326.96 million, with total net assets near $11.72 billion while ETH traded around $2,000. How to read the move - The pattern — heavy BTC accumulation in Q3, partial trimming in Q4, and a fresh allocation to ETH — suggests Harvard rebalanced between crypto assets rather than abandoning the sector. - Earlier in 2025, Ethereum ETFs saw stronger accumulation than Bitcoin ETFs, so Harvard’s Q4 tilt may reflect relative asset preferences and risk/liquidity management during a volatile period. - Overall, the filing underscores that large institutional portfolios are actively managing crypto exposure via regulated ETFs in response to market flows and performance, rather than treating crypto allocations as static, buy-and-hold positions. Disclaimer: This article is for informational purposes only and is not investment advice. Crypto trading carries significant risk; perform your own research before making decisions. Read more AI-generated news on: undefined/news

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