Morning Minute: Harvard Sells Bitcoin for Ethereum

Morning Minute is simply a regular newsletter written by Tyler Warner. The investigation and opinions expressed are his ain and bash not needfully bespeak those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s apical news:

• Crypto majors somewhat reddish up of play open; BTC astatine $67k

• Harvard rotates a information of BTC holdings into ETH

• Steak ‘n’ Shake says Bitcoin adoption dramatically accrued sales

• Kraken to sponsor Trump Accounts successful Wyoming

• Andre Cronje opens Flying Tulip merchantability to the nationalist astatine $1B valuation

The smartest wealth successful the country is rotating.

In a 13F filing with the SEC, Harvard disclosed that it trimmed 1.46M shares of BlackRock’s iShares Bitcoin Trust (IBIT) during Q4, bringing that presumption down to astir $265M.

At the aforesaid time, it opened a brand-new presumption of 3,873,044 shares successful BlackRock’s iShares Ethereum Trust, worthy astir $86.8M.

Harvard Cuts Bitcoin ETF Stake, Adds Ethereum Exposure successful Q4 Filing

Overall, their combined spot crypto ETF vulnerability astatine quarter-end topped conscionable implicit $352M.

Harvard archetypal disclosed a $116M IBIT presumption successful August 2025. By November, it had tripled those holdings to astir $350M.

Now they’ve trimmed BTC and rotated superior into ETH.

Sean Bill, co-founder and CIO of Bitcoin Standard Treasury Company, told Decrypt that Harvard is apt “making a comparative worth commercialized with the content that ETH is undervalued comparative to BTC.”

Jennifer Ouarrag, Head of Legal astatine organization staking supplier Twinstake, described it arsenic a “recalibration toward assets with aggregate instrumentality drivers,” noting that portion Bitcoin remains “the superior organization store-of-value proxy,” Ethereum “offers vulnerability to a broader smart-contract ecosystem.”

Harvard selling Bitcoin? Not great.

Harvard selling Bitcoin to bargain ETH? Well, that’s a spot much interesting.

There is much and much grounds that ETH is entering the crypto speech alongside Bitcoin arsenic the wide #2 plus to buy.

BlackRock talks astir ETH possibly much than Bitcoin these days.

And present large institutions are tracking the BTC / ETH ratio, looking astatine which plus has underperformed, and making portfolio decisions based connected the analysis.

That seems similar a stake that some ETH and BTC volition beryllium astir for a while, and that some volition person a existent changeable to find caller ATHs.

They are precise antithetic assets though, and it would person been absorbing to perceive much from Harvard connected those differences.

Bitcoin is simply a store of worth play. ETH is simply a productive plus (see Tom Lee’s Bitmine and their play staking yield). Plus, it’s infrastructure, on with astute contract, and privacy, and possibly adjacent the AI integration layer.