Dartmouth endowment’s crypto exposure drops by $2M amid falling prices
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- Dartmouth College reported its endowment held about $12.4 million across the Bitwise Solana staking ETF, Grayscale Ethereum staking ETF, and BlackRock's iShares Bitcoin ETF as of June 30, down from $14.6 million on March 31 in a Thursday SEC filing.
- The ~$2 million, ~15% value drop occurred despite the endowment holding the same number of shares in each ETF — the decline reflected falling underlying crypto prices, not active selling.
- Bitcoin fell 7.7% to $62,915, Ether dropped 10.8% to $1,875, and Solana declined 9.6% to $75.11 over the same quarter.
- Dartmouth first added crypto exposure to its endowment in 2025, making it one of the earliest US universities to allocate endowment funds to digital assets.
- Harvard, with a $57 billion endowment, had fully liquidated its $87 million position in BlackRock's iShares Ethereum ETF as of March 31, per its last disclosure.
Why it matters: Dartmouth's roughly 15% crypto ETF loss shows the endowment held steady — same share count, no selling — absorbing the full price decline on Bitcoin (-7.7%), Ether (-10.8%), and Solana (-9.6%). Harvard took the opposite route, fully liquidating $87 million of its iShares Ethereum ETF, illustrating two divergent institutional playbooks during the same market pullback.
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