Harvard's 21% cut in BTC ETF holdings seen as portfolio rebalancing

Analysts suggest that Harvard Management Company's (HMC) 21% reduction in its Bitcoin spot ETF holdings during the fourth quarter of last year was likely a risk management measure rather than a fundamental exit from the asset. According to CoinDesk, Michael Markov, co-founder and chairman of Markov Processes International, a firm that studies university endowment funds, explained that cryptocurrency is probably the most volatile component of Harvard's portfolio. He noted that Bitcoin fell by approximately 25% in the fourth quarter, and this sharp price movement likely prompted a portfolio rebalancing by the university. Markov added that this does not signify a strategic change.