Regulatory filings reveal Harvard University significantly increased its Bitcoin-related investments in Q3 2025. Its holdings in the iShares Bitcoin Trust (IBIT) surged to $442.8 million, marking a 257% quarterly growth and becoming its largest disclosed single asset—surpassing traditional equity positions in Microsoft, Amazon, and Nvidia.

Harvard Management Company now holds 6.8 million shares of BlackRock's Bitcoin ETF, a sharp rise from 1.9 million shares in June. This represents approximately 21% of its public equity portfolio, ranking Harvard as the 16th largest holder of this ETF. Simultaneously, the university boosted gold allocations by 99%, adding over 660,000 shares of SPDR Gold Trust worth $235 million. This dual expansion into Bitcoin and gold reflects a defensive strategy against macroeconomic uncertainty.

The move contrasts with earlier cautious stances by some Harvard scholars. Previously skeptical economists, who doubted cryptocurrency's regulatory viability, now acknowledge faster-than-expected market and policy evolution.

Harvard's repositioning signals accelerating crypto adoption among conservative institutions. Emory University raised its Bitcoin ETF stake to $52 million in Q3, while the Wisconsin Investment Board holds $387 million in IBIT. JPMorgan Chase also increased exposure by 64% to $343 million.

Since its 2024 debut, iShares Bitcoin Trust has attracted over $60 billion in net inflows, commanding more than half of the U.S. spot Bitcoin ETF market.