Harvard Dumps $87M Ethereum ETF as Crypto Strategy Shifts
Harvard Management Company (HMC), the overseer of Harvard University‘s $50 billion endowment, has entirely exited its $87 million position in Ethereum (ETH) through BlackRock’s iShares Ethereum Trust ETF (ETHA), according to Q1 2026 filings with the U.S. Securities and Exchange Commission (SEC). The sale comes just one quarter after the fund disclosed its initial Ethereum investment, signaling a rapid reassessment of its crypto strategy. The decision follows a challenging period for Ethereum, with ETH prices hovering at $2,136.08 as of May 21, 2026—down more than 50% from its August 2025 all-time high near $5,000. SEC filings reveal that HMC also reduced its Bitcoin ETF holdings, offloading approximately 2.3 million shares of BlackRocks iShares Bitcoin Trust (IBIT). Despite this reduction, HMC still owns 3 million IBIT shares, valued at nearly $117 million. Harvard‘s exit from ETH comes against the backdrop of broader market volatility and internal challenges at the Ethereum Foundation (EF). The foundation has faced leadership instability, with eight high-profile departures this year, including notable researchers Julian Ma, Carl Beek, and Josh Stark. These changes have raised questions about Ethereum’s long-term ecosystem stability, further pressuring investor sentiment. Strategic Rebalancing or Loss Mitigation? HMC‘s pivot highlights a cautious, institutional approach to digital assets. The endowment