Harvard's endowment fund has become one of the latest high-profile holders to liquidate its ETH as investor sentiment sours during the ongoing bear market. Harvard Management Company, the entity that manages Harvard University’s endowment fund, sold all of its Ether (ETH) holdings after just one quarter, according to its Q1 2026 United States Securities and Exchange Commission (SEC) filing. The endowment no longer holds the $87 million in BlackRock iShares Ethereum Trust exchange-traded fund (ETF) shares, which it held in Q4 2025, according to its Q1 2026 SEC filing. Harvard also reduced its exposure to Bitcoin (BTC) in Q1 2026, offloading about 2.3 million Bitcoin ETF shares. The endowment fund still holds more than 3 million shares of BlackRock’s iShares Bitcoin Trust ETF, valued at nearly $117 million. Harvard's asset holdings as of Q1 2026. SEC The change in holdings follows a turbulent year for ETH, which has fallen by over 50% from the all-time high of nearly $5,000 reached in August 2025, and several high-profile departures at the Ethereum Foundation (EF), the organization that oversees the ecosystem. Related: Dartmouth endowment invests in Solana ETF, holds $14M in crypto exposure Julian Ma and Carl Beek, two researchers at the EF, recently announced their departure from the organization, bringing the total number of departures in 2026 to eight.