ハーバード大学のエンダウメントはビットコインの保有を減らす一方で、ブラックロックのイーサリアムETFの株式を購入した。アナリストらはこの動きを、ボラティリティと流動性ニーズの中でのポートフォリオのリバランスによるものとみなし、暗号資産からの撤退ではないと指摘している。この行動は、ビットコインを超えた資産への機関投資家の関心の高まりを示している。
ハーバード大学のエンダウメントは、高まったボラティリティと流動性要件に対応してビットコインの保有を削減した。2025年第4四半期に、ビットコインとイーサリアムはともに価格の急変動を経験し、価値の約25%を失った。このボラティリティがエンダウメントにポートフォリオのリバランスを促した。暗号資産は公開市場保有資産の中で最も変動の激しい部分を占めているからだ。
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Following a mid-week rally above $68,000, Bitcoin retreated toward $70,000 by early March 6, 2026, erasing $110 billion in market capitalization amid worsening Iran conflict, rising oil prices, and a strengthening U.S. dollar. The pullback occurs despite ongoing institutional adoption, with $2.6 billion in Bitcoin options set to expire, heightening volatility risks.
Harvard Management Company has reallocated a significant portion of its cryptocurrency holdings from BlackRock's iShares Bitcoin Trust to the iShares Ethereum Trust. Meanwhile, BlackRock prepares to launch ETHB, an Ethereum ETF designed to offer staking rewards in a regulated U.S. structure. These developments highlight increasing institutional interest in Ethereum alongside Bitcoin.
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Endowments and foundations are exploring cryptocurrency investments as they anticipate lower returns from traditional assets. High equity valuations and crowded markets are prompting institutions to diversify into bitcoin and ether ETFs. Speakers at a recent conference highlighted the need to venture further on the risk curve to sustain payout models.
In his latest annual letter, BlackRock CEO Larry Fink has called for a fundamental rethink of the retirement age in America, sparking a policy debate. This comes amid record trading in the firm's Bitcoin ETF and plans for closed-end fund mergers. Investors are watching how these developments influence BlackRock's stock and broader financial strategies.
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A survey by Coinbase Institutional and Glassnode reveals that one in four institutions believes cryptocurrency has entered a bear market, yet the majority still views bitcoin as undervalued. Despite caution, most institutions have held or increased their bitcoin exposure since October 2025. This positioning reflects a preference for bitcoin amid broader market deleveraging.
Bitcoin traded around $72,700 on Thursday, maintaining gains above $70,000 but pausing its recent breakout without pushing toward $80,000. Ether also saw modest increases of less than 1%, as investors assessed macroeconomic risks and derivatives activity. Broader market indices for major cryptocurrencies rose about 3%, while sectors like DeFi showed little movement.
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Ethereum has dropped about 7% to around $1,947 amid market volatility, but Coinbase CEO Brian Armstrong points to strong retail investor behavior as a positive sign. Retail users on the platform are buying the dip and maintaining or increasing their holdings of Bitcoin and Ethereum. This trend suggests growing maturity among individual investors despite broader market challenges.