Harvard University Boosts Bitcoin IBIT Investment by 257% in Q3: 'A Strong Endorsement Comparable to an ETF'

Harvard's Investment in IBIT: Harvard University significantly increased its investment in the iShares Bitcoin Trust ETF (IBIT), holding 6,813,612 shares as of September 30, a 257% increase from the previous quarter, making up 21% of its investment portfolio.

Validation for ETFs: Bloomberg analyst Eric Balchunas highlighted that Harvard's investment serves as a strong validation for exchange-traded funds, noting that it is uncommon for university endowments to invest in such funds.

IBIT's Market Performance: The iShares Bitcoin Trust, launched in January 2024, has gained substantial traction, attracting nearly $27 billion in inflows this year and ranking among the top six ETFs by inflows, with $75 billion in assets under management.

Current Share Price: As of the latest trading session, shares of IBIT closed at $53.48, reflecting a 3.80% decrease, while its momentum ranking stands at 44.33 out of 100 according to Benzinga's proprietary Edge Rankings.