According to ChainCatcher, and The Block, the latest disclosure from Harvard Management Company, a fund manager affiliated with Harvard University, shows they reduced their Bitcoin ETF holdings by approximately 21% in Q4/2025, while establishing their first Ethereum ETF position, with a total exposure of about $352.6 million across the two main cryptocurrencies. As of December 31, 2025, Harvard held approximately 5.35 million shares of BlackRock's IBIT, valued at $265.8 million, down about 1.48 million shares from 6.81 million shares in the previous quarter. At the same time, a new position in iShares Ethereum Trust was created, holding around 3.87 million shares worth approximately $86.8 million, marking the first time the fund has publicly disclosed its allocation to Ethereum-related products. Despite the decline, Bitcoin remains Harvard's largest publicly disclosed equity asset, surpassing its holdings in Alphabet, Microsoft, and Amazon.