Harvard significantly increased its holdings of Bitcoin ETFs in Q3/2025

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Harvard tripled its Bitcoin ETF holdings to $443 million in Q3/2025, far surpassing the increase in gold ETF holdings, which only reached $235 million, according to the latest 13F filing. This move is seen as a “devaluation hedge trade,” as both Bitcoin and gold are considered hedges against inflation.

The 2:1 allocation ratio in favor of Bitcoin indicates a shift in preference among major institutions toward digital assets. Matt Hougan, CIO of Bitwise Investments, noted that this trend is becoming more pronounced as Bitcoin surpasses $126,000 in 2025, reflecting the accelerating adoption of digital assets by traditional finance.

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