According to @EricBalchunas, Harvard and Brown endowments have purchased BlackRock’s IBIT spot Bitcoin ETF, providing institutional BTC exposure via an ETF vehicle (source: @EricBalchunas). Harvard is the 29th largest IBIT holder out of 1,300 reported holders, indicating a relatively sizable allocation among institutions (source: @EricBalchunas). Endowments are among the hardest institutions to engage and rarely buy ETFs, highlighting the significance of these allocations for institutional adoption signals in BTC markets (source: @EricBalchunas). For trading, participants tracking institutional demand may monitor IBIT holder rankings and count as referenced by @EricBalchunas to gauge continued endowment participation in spot BTC ETFs (source: @EricBalchunas).