On-chain analyst Ai Yi reported that Harvard Management Company, Harvard University's endowment fund manager, recorded a loss of over $150 million (225.8 billion KRW) in cryptocurrency investments over the past year. Harvard Management first indirectly invested in crypto-related assets in the second quarter of last year during a market upturn, and subsequently expanded its position in the third quarter when the BTC price neared its all-time high. At that time, BlackRock's spot Bitcoin ETF IBIT became the largest holding, accounting for approximately 20% of the entire portfolio. In the fourth quarter, it reportedly sold some of its Bitcoin ETFs and purchased Ethereum (ETH) ETFs, but then sold off all of its ETH ETFs at a loss one quarter later.
