Dartmouth College, through Trustees of Dartmouth College, disclosed a new position in BlackRock’s iShares Bitcoin Trust ETF (IBIT), reporting 201,531 shares worth $10,006,014 as of Dec. 31, 2025, according to the Form 13F filed on Jan. Mini Trust, a rare double-print of BTC and ETH exposure within the Ivy League’s public equity book.
Dartmouth’s Endowment Adds Bitcoin and Ethereum
Crypto market watchers immediately flagged the disclosure. MacroScope, an analyst account that tracks the institution’s position, framed it as a sound signal from the endowment complex: “The most important filing today. In the 13F, Dartmouth College reported that it owned 201,531 shares of IBIT as of December 31, worth more than $10 million. It also reported that it owned 1488 small shares of Grandscale E78 $4.9 million.”
SEC filings give direct marks. A portion of Dartmouth’s Grayscale Ethereum Mini Trust was listed at $4,998,833 for 178,148 shares at the end of the quarter, putting the combined Bitcoin and Ethereum holdings at about 15.0 million 13F holdings.
In the context of Dartmouth’s 13F disclosed portfolio, crypto remains a piece rather than a core. The filing summary page lists the “Form 13F Information Table Amount” of $393,306,686 in nine positions. Of that figure, IBIT represents about 2.5% of the reported book, while the Ethereum Mini position adds about 1.3%.
Some holdings read like a traditional endowment liquid sleeve. Dartmouth’s largest position was the SPDR S&P 500 ETF Trust at $227,897,664, and large emerging market shares (Shares Core MSCI Emerging Markets at $50,043,811), a quality-factor ETF (GMO US Quality at $42,153,006 Value Value) at $34,807,928).
Notably, neither IBIT nor Grayscale Ethereum Mini Trust appeared in Dartmouth’s previous 13F for the quarter ended September 30, 2025, supporting the claim that both positions were new additions later in the year.
Notably, Dartmouth isn’t the first campus to channel crypto exposure through an ETF wrapper. Brown University disclosed a new IBIT position on March 31, 2025 13F, 105,000 shares valued at approximately $4.9 million, the school’s “first foray” into local bitcoin ETF ownership that quarter.
Emory University moved earlier. In an October 2024 disclosure, the Atlanta-based school reported that it put $15.8 million of its money into a publicly traded ETF, where a filing shows about 2.7 million shares of Grayscale’s Bitcoin Mini Trust.
And on the other end of the spectrum sits Harvard’s endowment manager. Harvard Management Co.’s public-equities 13F for the quarter ended September 30, 2025 showed IBIT as its largest reported position, with 6,813,612 shares worth about $442.9 million at the filing valuation mark.
At press time, Bitcoin traded at $96,284.
The featured image was created with DALL.E, a chart from TradingView.com
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