According to a document filed with the U.S. Securities and Exchange Commission (SEC) on Friday (August 9), Harvard Management Company (HMC) made a large-scale new investment in exchange-traded funds (ETFs) tracking the value of gold and Bitcoin in the second quarter of 2025. Among them, it purchased 1.9 million shares of BlackRock iShares Spot Bitcoin ETF, worth $116.7 million.

According to Harvard University's campus newspaper, Rutgers Business School professor John M. Longo stated, "Due to the significant expansion of the global money supply, especially since the pandemic, some investors are viewing gold and cryptocurrencies as stores of value." He added that the Trump administration's pro-cryptocurrency policies and the increasing supply of related products by large financial institutions have pushed Bitcoin prices to record highs. (Securities Times)