Dartmouth College has recently made headlines by acquiring shares in the iShares Bitcoin Trust ETF (IBIT), showcasing a growing trend among prestigious academic institutions investing in cryptocurrencies. As of December 31, 2025, Dartmouth reported holdings of 201,531 shares valued at approximately $10 million, according to a Form 13F submitted on January 14. This filing also indicates a new investment in the Grayscale Ethereum Mini Trust, reflecting a notable shift toward cryptocurrency exposure among Ivy League endowments.
Dartmouth’s Strategic Move into Cryptocurrency
Analysts and market commentators quickly highlighted this disclosure. A prominent analyst account, MacroScope, characterized the filing as a significant indicator from university endowments. They stated, “This is a major development. Dartmouth College has disclosed ownership of 201,531 IBIT shares valued at more than $10 million, alongside 178,148 shares of Grayscale Ethereum Mini, worth about $4.9 million.”
The Form 13F clearly delineates Dartmouth’s diverse asset allocations. The endowment’s stake in the Grayscale Ethereum Mini Trust is valued at $4,998,833 for 178,148 shares, bringing the total exposure to Bitcoin and Ethereum to around $15 million. This indicates a remarkable step in the diversification strategy of the college’s investment portfolio.
Within the larger context of Dartmouth’s 13F report, cryptocurrency is emerging, although not yet a dominating force. The summary reveals a total asset value of $393,306,686 spread across nine different holdings. Based on this, the IBIT investment accounts for about 2.5% of the overall portfolio, with the Ethereum stake constituting an additional 1.3%.
Other prominent holdings include traditional investments such as the SPDR S&P 500 ETF Trust, which stands as the largest position at $227,897,664. Significant allocations also include the iShares Core MSCI Emerging Markets and various quality and value-focused ETFs, reaffirming the conventional investment strategies employed by the institution.
Interestingly, Dartmouth was not the first higher education institution to enter the crypto space via ETF formats. Brown University also reported a new IBIT position with 105,000 shares worth about $4.9 million, marking its initial venture into this asset class. Emory University took an earlier leap, investing $15.8 million into a bitcoin ETF in late 2024, indicating rising institutional acceptance of digital currencies.
Conversely, Harvard’s endowment has taken a decidedly aggressive stance, with its reported public-equities 13F indicating that IBIT is its largest holding, encompassing 6,813,612 shares worth around $442.9 million. This stark contrast illustrates varying investment strategies among the elite institutions.
As of now, Bitcoin is priced at approximately $96,284, continuing to attract interest from institutional investors. The shift toward embracing cryptocurrencies signifies not just a trend but potentially a lasting change in how endowments manage their portfolios.
