Harvard Management Company, a wholly owned subsidiary of Harvard University that manages its financial assets, reported holding 3.04 million shares of the iShares Bitcoin Trust ETF (NASDAQ:IBIT) as of March 31, down from 5.35 million in the previous quarter.

The stake was worth $116.97 million based on IBIT’s price of $38.42 on March 31.

Once Harvard’s top position, IBIT dropped to tenth place following sell-offs and now represents 6.44% of the portfolio. Harvard bought the ETF first during the second quarter of 2025.

Additionally, Harvard dumped the entirety of its iShares Ethereum Trust ETF (NASDAQ:ETHA) holdings, an asset it only began buying in the fourth quarter of 2025.

The two ETFs faced steep sell-offs in the first quarter, compounded by the broader cryptocurrency market slump.

ETF	Q1 Gains +/-
iShares Bitcoin Trust ETF	-22.17%
iShares Ethereum Trust ETF	-29.42%

Price Action: Shares of IBIT closed 2.92% lower at $44.82 during Friday’s regular trading session, according to data from Benzinga Pro. ETHA ETF shares traded down 3.46% at $16.76.

Benzinga’s Edge Stock Rankings show IBIT ETF trailing in long-term price performance, with Momentum metrics signaling weakness.

Photo Courtesy: Wangkun Jia on Shutterstock.com