Dartmouth Endowment Adds Solana Staking ETF, Holds $14M Crypto

Dartmouth College’s $9 billion endowment bought $3.3 million of the Bitwise Solana staking ETF, according to a Thursday filing with the U.S. Securities and Exchange Commission. The trustees reported roughly $14 million in total crypto exposure across several ETFs.

The SEC filing lists about $7.7 million in BlackRock’s iShares Bitcoin ETF, roughly $3.5 million in the Grayscale Ethereum staking ETF and approximately $3.3 million in the Bitwise Solana staking ETF. The filing was submitted by the endowment’s trustees and reflects portfolio changes since Dartmouth first reported crypto purchases earlier in 2025.

Compared with the endowment’s January disclosures, the number of BlackRock Bitcoin ETF shares held remained the same while the dollar value fell from more than $10 million to about $7.7 million. Dartmouth also reported holding about $5 million in the Grayscale Ethereum Mini Trust ETF in January; that position has moved into a staking-focused Ethereum ETF.

The filing came amid recent volatility in crypto-focused funds. Bitcoin-related ETFs recorded $635.2 million in daily outflows in a single session, the largest since January, and late-January outflows earlier in the year exceeded $800 million across those funds.

At the time of the filing, Bitcoin traded around $81,237, up about 2% over the prior 24 hours. The price was near its 200-day exponential moving average but remained below its one-year trend and the October 2025 peak near $126,000.

Staking ETFs are designed to give investors exposure to proof-of-stake tokens and to the rewards generated by participating in those networks. The SEC approved spot Bitcoin ETFs in January 2024 and regulators have since cleared spot ETFs tied to Ether, Solana, Dogecoin and XRP; other applications remain under review.

Dartmouth is among U.S. university endowments that have disclosed allocations to crypto ETFs. Earlier in 2025, another large university endowment reported holdings in BlackRock’s iShares Bitcoin Trust and an Ethereum trust. Dartmouth’s initial SEC filing earlier in 2025 was the endowment’s first public accounting of crypto exposure.

The trustees’ filing does not include commentary on strategy or rationale. The disclosure lists ETF holdings and their reported market values as of the filing date, in line with federal reporting rules for institutional investors.