TLDR
- Harvard’s endowment invested $116M in BlackRock’s Bitcoin ETF, holding 1.9 million shares.
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Elizabeth Warren proposed banning self-custody of Bitcoin for everyday Americans.
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Harvard’s $53 billion endowment makes it one of the largest U.S. universities.
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BlackRock’s Bitcoin ETF has grown to $86 billion in net assets since its SEC approval.
John Deaton has criticized U.S. Senator Elizabeth Warren after news emerged that Harvard University’s endowment invested $116 million in BlackRock’s Bitcoin Exchange-Traded Fund (ETF). Deaton, known for his advocacy for Bitcoin and other cryptocurrencies, pointed out the discrepancy between Warren’s stance on Bitcoin and Harvard’s investment. Warren has previously expressed opposition to cryptocurrency, including proposing legislation aimed at restricting self-custody of Bitcoin for ordinary Americans.
The news of Harvard’s Bitcoin ETF investment challenges the narrative presented by Warren. According to Deaton, Warren’s stance would allow only the elites access to Bitcoin, while universities like Harvard are free to invest in it. The investment highlights a growing trend of institutional adoption of cryptocurrencies, which contrasts with the regulatory approach taken by lawmakers such as Warren.
Harvard’s $116 Million Investment in Bitcoin ETF
Harvard University’s endowment, managed by Harvard Management Company, has disclosed a substantial investment in BlackRock’s Bitcoin ETF. As of June 30, the endowment held approximately 1.9 million shares of the iShares BTC ETF, valued at over $116 million.
The Senior Senator from MA, @ewarren, criticized me for having a large percentage of my personal wealth in Bitcoin. In fact, she proposed a Bill (written by the bank lobby) banning the self-custody of Bitcoin for everyday Americans. Yet, @Harvard – arguably, America’s most… https://t.co/rFqBCILfOV pic.twitter.com/lH7e3L2Ajm
— John E Deaton (@JohnEDeaton1) August 8, 2025
This as a result makes the Bitcoin ETF the fifth-largest holding in Harvard’s $53 billion endowment portfolio, trailing only investments in major companies like Microsoft, Amazon, Booking Holdings, and Meta.
The investment represents a notable shift as major institutions begin to embrace digital assets, despite ongoing regulatory debates. Harvard’s endowment has long been regarded as one of the most influential in the United States, with a diverse portfolio that includes investments in technology and other industries. This move into Bitcoin ETFs indicates a broader acceptance of cryptocurrencies within institutional investment strategies.
SEC Approval and Growth of BlackRock’s Bitcoin ETF
BlackRock’s Bitcoin ETF, approved by the U.S. Securities and Exchange Commission (SEC) in January 2024, has seen remarkable growth since its launch. As of Thursday, the fund’s net assets reached more than $86 billion, signaling strong demand for Bitcoin exposure through traditional financial products. The SEC’s approval of this ETF is considered a landmark moment in the integration of cryptocurrency into mainstream financial markets.
Harvard’s investment in this ETF is seen as part of a broader trend where universities and large institutions gain exposure to Bitcoin in a regulated environment.
The SEC’s approval has also led to a surge in interest from other endowments and institutions looking to capitalize on the growing digital asset market. With options contracts now being expanded to 250,000, experts predict that demand for BTC ETFs will continue to rise, providing more opportunities for institutional players like Harvard.
