Harvard University invests $116 million in BlackRock's Bitcoin ETF.

According to regulatory documents, top universities Harvard University and Brown University are among the institutions with the largest new Bitcoin exposure. Harvard Management Company, a wholly owned subsidiary of Harvard University, disclosed in its 13F filing with the U.S. Securities and Exchange Commission that it holds $116 million worth of shares in the BlackRock iShares Bitcoin Trust. A similar filing showed that Brown University made its first Bitcoin exposure purchase in May and increased its holdings in the BlackRock ETF, now holding $13 million worth of shares. BlackRock's Bitcoin Trust and other cryptocurrency ETFs allow investors to invest in large cryptocurrencies without directly owning or storing digital assets. BlackRock's IBIT currently manages assets worth $86.3 billion.