Harvard Management Company, which oversees the university’s , disclosed a $116 million position in BlackRock’s iShares Bitcoin Trust (IBIT) in its latest with the U.S. Securities and Exchange Commission (SEC).

The stake, reported in a Form 13-F on Friday covering holdings as of June 30, 2025, represents one of the largest known bitcoin allocations by a U.S. university endowment. IBIT, launched in January of last year, is a spot bitcoin exchange-traded fund that allows investors to gain exposure to the cryptocurrency without directly holding it.

The position places the university among a growing cohort of institutional investors — from hedge funds to pension systems — adding regulated bitcoin products to their portfolios.

The disclosure comes as total assets across U.S. spot bitcoin ETFs have climbed into the of dollars, driven by both retail inflows and large-scale institutional allocations. For endowments, the ETF structure offers daily liquidity and SEC oversight, which can help meet governance and compliance requirements for alternative investments.

Harvard didn't provide further comment on the filing.

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