Dartmouth College’s $9 billion endowment has recently disclosed new holdings related to crypto assets. According to its 13F filing for the quarter ended March 31, 2026, the fund currently holds three crypto ETFs, with a combined exposure of approximately $14 million.
Shift holdings to be more diversified
The document shows that this allocation includes approximately $3.3 million in the Bitwise Solana Staking ETF, approximately $3.5 million in the Grayscale Ethereum Staking ETF, and approximately $7.7 million in BlackRock’s iShares Bitcoin ETF.
Compared to January of this year, this portfolio has undergone significant adjustments. Previously, Dartmouth’s crypto holdings were more concentrated in BlackRock’s Bitcoin ETF and Grayscale’s Ethereum products, with Bitcoin ETF holdings exceeding $10 million and the Ethereum Mini Trust at approximately $5 million.
University funds enter the market via ETFs
Latest disclosures show that its allocation is shifting from a single large holding to a more diversified ETF portfolio. This also reflects U.S. university endowments’ attempt to gain exposure to digital assets through regulated products rather than holding tokens directly.
The report mentioned that Harvard University's endowment was previously reported to hold BlackRock’s Bitcoin Trust and Ethereum Trust products. For long-term capital, the advantage of ETFs lies in their compliance, higher liquidity, and trading and custody methods that more closely resemble those of traditional securities.
Product scaling supports institutional configuration
Since the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs in January 2024, the range of related products has gradually expanded. The article notes that ETF products linked to Ethereum, Solana, Dogecoin, and XRP have already emerged, with additional applications still under review.
Under this context, Dartmouth’s latest position is seen as a reflection of a shift in institutional allocation strategies. Although still a small portion of its multi-asset portfolio, compliant ETFs are becoming a key channel for traditional institutions to access digital assets.