Dartmouth Holds $12.4M in Bitcoin, Ether and Solana ETFs

Dartmouth Reports $12.4M in Bitcoin, Ether and Solana ETFs

The filing shows a three-asset fund allocation rather than a single Bitcoin trade. IBIT accounted for about 54% of the reported crypto-fund total, BSOL about 25% and Grayscale Ethereum Staking about 22%, based on the June 30 values.

BSOL was Dartmouth’s newest crypto-fund entry in the first quarter and remained at 304,803 shares in the latest filing. Bitwise says its product holds Solana directly and intends to stake its holdings, allowing the fund structure to carry staking-related exposure alongside SOL price exposure.

The Bitcoin position has been constant at 201,531 shares since at least the end of 2025. BlackRock says IBIT seeks to reflect Bitcoin’s price through a listed trust, which provides brokerage-account exposure without Dartmouth reporting direct custody of Bitcoin.

The Ether position retains 178,148 shares, although the fund’s filing label changed from Grayscale Ethereum Mini Trust at year-end to Grayscale Ethereum Staking in the March and June reports. The identical CUSIP and share count in the records make the latest disclosure a continuation of the reported position, not proof of a new $2.68 million purchase.

The combination gives the filing a broader institutional angle than a routine IBIT disclosure. Daily Crypto Briefs’ new Harvard filing report showed that another university manager kept its Bitcoin ETF share count flat after two reported reductions. Dartmouth’s record adds Ether and Solana fund positions, but it does not show an endowment-wide target allocation or a view on any asset’s future price.

Unchanged Share Counts Leave a $2.2M Valuation Decline

The first-quarter table listed the same three share counts at a combined $14.65 million. In the June filing, their combined value was $12,437,609, a decline of $2,211,304.

That arithmetic is a valuation comparison. It does not identify the precise daily price path of every fund, Dartmouth’s tax position, its decisions between reporting dates or any trades that left the quarter-end number unchanged.

The historical sequence is also more restrained than a headline about a fresh college bet. Dartmouth’s December 13F had 201,531 IBIT shares and 178,148 Ether-fund shares, while the year-end table did not list BSOL. The second-quarter filing confirms the Solana ETF position held steady after its first-quarter appearance.

Institutional holdings reports and daily fund flows answer different questions. An ETF’s creations and redemptions show activity in the fund, while a 13F reports specified securities at a manager’s quarter-end. That distinction is visible in Daily Crypto Briefs’ coverage of IBIT-led weekly inflows, which measured fund demand rather than a university portfolio.

Dartmouth’s 13F Is Not a Full Endowment Portfolio

Form 13F is a regulatory disclosure for institutional managers with qualifying holdings. It does not list private investments, cash, debt, non-U.S. securities, all derivatives, short positions or the college’s overall endowment value.

The SEC table also does not say whether Dartmouth plans to add, cut or retain the funds beyond June 30. It reports values in thousands of dollars as of that date and leaves the rationale for the positions undisclosed.

The Crypto Fear & Greed Index stood at 34, or Fear, on Aug. 15. That gauge describes broad market sentiment, not Dartmouth’s investment process or the performance of the three ETF positions.

The next comparable evidence will be Dartmouth’s subsequent 13F, which will reveal another quarter-end share count but still not its full portfolio. The current filing supports a narrower conclusion: the college maintained reported exposure across Bitcoin, Ether and Solana funds through June 30, while their disclosed value fell to $12.44 million.