Harvard University's endowment sold its entire position in BlackRock's spot ether ETF, realizing $86.8 million; the stake had been acquired late last year.

Details of the transaction

The endowment exited the BlackRock ether ETF position completely and reported proceeds of $86.8 million, according to internal disclosures available to investors.

The initial purchase, made at the end of last year, had been described as one of the largest indirect crypto allocations among U.S. educational endowments.

Changes to bitcoin exposure and portfolio ranking

Concurrently, the fund reduced its holding in iShares Bitcoin Trust (IBIT) by 43%, retaining 3,044,612 shares with a reported value of $117 million.

This move follows a prior reduction of 21% in the previous quarter, marking the second consecutive cut to the IBIT position.

• The sale and reductions caused IBIT to cease being the largest portfolio holding.
• Top positions now include Taiwan Semiconductor, Alphabet, Microsoft and SPDR Gold Trust, which is physically backed.

Market-wide, spot bitcoin ETFs lost approximately $1 billion over the past week, reflecting broader rebalancing and price moves in crypto-linked funds.