Dartmouth endowment’s crypto exposure drops by $2M amid falling prices

cointelegraphPublished on 2026-08-14Last updated on 2026-08-14

Abstract

The value of Dartmouth College's $9 billion endowment's crypto-related investments fell by over $2 million in the second quarter of 2026. According to an SEC filing, the endowment held approximately $12.4 million in three crypto ETFs as of June 30—Bitwise Solana Staking ETF, Grayscale Ethereum Staking ETF, and BlackRock iShares Bitcoin ETF. While the number of shares remained unchanged from March 31, the portfolio's total value dropped by about 15% from $14.6 million. This decline aligned with falling cryptocurrency prices: Bitcoin dropped 7.7%, Solana 9.6%, and Ether 10.8% over the same period. Dartmouth was an early adopter among U.S. university endowments, first adding crypto exposure in 2025. Separately, Harvard University's $57 billion endowment liquidated its entire $87 million position in BlackRock's iShares Ethereum ETF as of March 31.

The value of crypto-related investments held by Ivy League university Dartmouth College’s $9 billion endowment fell by more than $2 million in three months.

In a Thursday filing with the US Securities and Exchange Commission (SEC), the trustees of Dartmouth College reported that the university endowment held about $12.4 million worth of the Bitwise Solana staking exchange-traded fund (ETF), the Grayscale Ethereum staking ETF and BlackRock’s iShares Bitcoin ETF as of June 30. The endowment held the same number of shares of each ETF, but the overall value dropped by about 15% since it reported holding $14.6 million as of March 31.

The drop in value roughly corresponded to falling crypto prices tied to each ETF. Since March 31, the price of Bitcoin (BTC) fell 7.7% to $62,915, Solana (SOL) by 9.6% to $75.11 and Ether (ETH) by 10.8% to $1,875.

Dartmouth reported adding crypto exposure to its endowment’s portfolio in 2025, making it one of the first US universities to invest in digital assets. Harvard, with a $57 billion endowment, had not disclosed its second-quarter 2026 holdings as of Friday, but reported liquidating the entirety of its $87 million worth of BlackRock’s iShares Ethereum as of March 31.

Related: Harvard endowment reduces stake in Bitcoin ETF, adds Ether exposure

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Related Questions

QBy how much did the value of Dartmouth College's endowment's crypto-related investments decrease over the three-month period?

AThe value of Dartmouth College's endowment's crypto-related investments decreased by more than $2 million.

QWhich specific crypto ETFs did the Dartmouth endowment report holding as of June 30?

AAs of June 30, the endowment reported holdings in the Bitwise Solana Staking ETF, the Grayscale Ethereum Staking ETF, and BlackRock's iShares Bitcoin ETF.

QWhat was the total value of Dartmouth's crypto ETF holdings as of June 30, and how does it compare to the value as of March 31?

AAs of June 30, the total value of Dartmouth's crypto ETF holdings was about $12.4 million. This represents a drop of about 15% from the $14.6 million reported as of March 31.

QHow did the price movements of Bitcoin, Solana, and Ether from March 31 to the time of reporting correlate with the endowment's loss?

AThe price declines of Bitcoin (-7.7%), Solana (-9.6%), and Ether (-10.8%) during the period roughly corresponded to the 15% drop in the value of Dartmouth's crypto ETF holdings.

QWhat notable action did Harvard's endowment take regarding its crypto investments as of the most recent quarter detailed for comparison?

AHarvard's endowment liquidated the entirety of its $87 million worth of BlackRock's iShares Ethereum Trust as of March 31.

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