Harvard Management Company has reduced its holdings in the BlackRock iShares Bitcoin Trust (IBIT) by 21% during the fourth quarter of 2025, according to a recent SEC filing. Despite this reduction, Bitcoin ETFs continue to be Harvard's largest public investment, with a valuation of $2.658 billion. In a strategic shift, Harvard Management has also initiated a significant position in Ethereum by purchasing $86.8 million worth of iShares Ethereum Trust (ETHA). This marks the company's first investment in Ethereum ETFs, indicating a diversification of its cryptocurrency portfolio.