• Harvard cuts bitcoin exposure by 20%, adds new ether position The shift may be due to complex market dynamics, potentially reflecting the unwinding of a trade that capitalized on bitcoin treasury companies trading at premiums to their mNAV. • What to know: Harvard University made its first investment in ether, purchasing nearly 3.9 million shares of the iShares Ethereum Trust (ETHA) while reducing its stake in the iShares Bitcoin Trust (IBIT). • The shift may be due to market dynamics, potentially reflecting the unwinding of a strategy that capitalized on bitcoin treasury companies trading at premiums to their mNAV. • Institutions cut ownership of IBIT shares to 230 million in the fourth quarter from 417 million in the third Harvard University’s $56.9 billion endowment made its first foray into etherETH$1,985.50last quarter, even as it scaled back its exposure to bitcoinBTC$68,324.61. • According to anSEC filing, the Harvard Management Company (HMC) bought almost 3.9 million shares of BlackRock’s iShares Ethereum Trust (ETHA), valued at around $86.8 million. • The company also reduced its stake in the iShares Bitcoin Trust (IBIT) by 21%, selling roughly 1.5 million shares.
Article Summaries:
- Harvard cuts bitcoin exposure by 20%, adds new ether position The shift may be due to complex market dynamics, potentially reflecting the unwinding of a trade that capitalized on bitcoin treasury companies trading at premiums to their mNAV. What to know: - Harvard University made its first investment in ether, purchasing nearly 3.9 million shares of the iShares Ethereum Trust (ETHA) while reducing its stake in the iShares Bitcoin Trust (IBIT). - The shift may be due to market dynamics, potentially reflecting the unwinding of a strategy that capitalized on bitcoin treasury companies trading at
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