Harvard University Boosts Bitcoin IBIT Investment by 257% in Q3: 'A Strong Endorsement Comparable to an ETF'
Harvard's Investment in IBIT: Harvard University significantly increased its investment in the iShares Bitcoin Trust ETF (IBIT), holding 6,813,612 shares as of September 30, a 257% increase from the previous quarter, making up 21% of its investment portfolio.
Validation for ETFs: Bloomberg analyst Eric Balchunas highlighted that Harvard's investment serves as a strong validation for exchange-traded funds, noting that it is uncommon for university endowments to invest in such funds.
IBIT's Market Performance: The iShares Bitcoin Trust, launched in January 2024, has gained substantial traction, attracting nearly $27 billion in inflows this year and ranking among the top six ETFs by inflows, with $75 billion in assets under management.
Current Share Price: As of the latest trading session, shares of IBIT closed at $53.48, reflecting a 3.80% decrease, while its momentum ranking stands at 44.33 out of 100 according to Benzinga's proprietary Edge Rankings.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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