Dartmouth College’s endowment fund holds its first Solana-staking ETF, with a total crypto investment portfolio value of $14 million

Dartmouth College trustees filed documents with the SEC on May 15, disclosing that its $9 billion endowment fund holds about $14 million worth of crypto ETF portfolios, covering three asset types: Bitcoin, Ethereum, and Solana. Dartmouth reportedly entered the crypto market for the first time in 2025, and this time provides a more complete ETF portfolio disclosure.

Breakdown of Three ETF Holdings: Comparison Between May and January

According to the SEC filing dated May 15, Dartmouth’s current crypto ETF holdings are as follows:

Bitwise Solana Staking ETF: About $3.3 million (newly disclosed this time)

Grayscale Ethereum Staking ETF: About $3.5 million (replacing the Grayscale Ethereum mini trust ETF from January)

BlackRock iShares Bitcoin ETF: About $7.7 million (the same fund had a market value of over $10 million in January)

Holdings disclosed for January 2026 are: BlackRock iShares Bitcoin ETF at over $10 million + Grayscale Ethereum mini trust ETF at about $5 million. Changes in the portfolio structure indicate that Dartmouth switched its ETH exposure from the mini trust to the staking version, and added a Solana staking exposure.

Crypto ETF Trends Among Ivy League Schools: A Harvard Precedent

Dartmouth’s disclosure is the latest example of Ivy League endowment funds moving closer to digital assets. Harvard University (with an endowment of about $5.7 billion) disclosed in January 2026 that it holds the BlackRock iShares Bitcoin trust and the Ethereum trust.

The SEC’s crypto ETF approval process has provided a compliant channel for institutions to enter: in January 2024, it approved spot Bitcoin ETFs (including BlackRock and Bitwise products); afterward, it approved Ethereum, Solana, Dogecoin, and XRP-linked ETFs in sequence, with more applications still under review.

Bitcoin ETF Capital Flows: Largest Single-Day Outflow Since January on the Same Day SEC Filing Was Submitted

On the same day Dartmouth’s SEC filing was released, Bitcoin-related ETFs recorded $635.2 million in net outflows in a single day, the largest single-day outflow since January 2026. The prior largest single-day outflow occurred on January 29, totaling over $800 million, with the most significant outflows from the BlackRock iShares Bitcoin trust fund. Bitcoin is currently trading at $81,237, still far below the historical high of around $126,000 in October 2025.

Frequently Asked Questions

Did Dartmouth endowment fund first disclose Solana-related holdings?

Based on the existing SEC filings for comparison, the Bitwise Solana Staking ETF did not appear in the January 2026 documents, indicating that this is the newly disclosed holding and that the endowment fund added Solana staking exposure during this period.

What percentage of the $9 billion endowment fund is the $14 million crypto ETF holding?

The three ETFs combined total about $14 million, representing about 0.16% of the $9 billion endowment fund’s total size. Of this, BlackRock’s Bitcoin ETF accounts for 0.086%, Grayscale’s Ethereum staking ETF for 0.039%, and Bitwise’s Solana staking ETF for 0.037%.

Why did Dartmouth’s Bitcoin ETF holdings market value decline from January to May?

The market value of the BlackRock iShares Bitcoin ETF fell from over $10 million in January to about $7.7 million in May, directly reflecting the drop in the spot Bitcoin price during the same period—Bitcoin is currently around $81,237, far below the historical high of about $126,000 in October 2025. It is not disclosed whether the number of ETF shares held was adjusted.