Abu Dhabi Discloses $437M Stake in BlackRock Spot Bitcoin ETF
Abu Dhabi’s sovereign wealth fund, Mubadala, has disclosed a $437M stake in BlackRock’s Bitcoin ETF, signaling growing institutional crypto adoption.
Author: Tanishq Bodh
Written On: Fri, 14 Feb 2025 19:56:31 GMT
Abu Dhabi’s Mubadala Investment Company, one of the emirate’s sovereign wealth funds, has disclosed a $436.9 million stake in BlackRock’s iShares Bitcoin ETF (IBIT), according to a 13F filing with the U.S. Securities and Exchange Commission (SEC).
The filing, released on February 9, reveals that the stake was held as of December 31, 2024. The news coincided with a 0.5% rise in Bitcoin (BTC) prices, pushing the cryptocurrency to $97,400.
Strategic Expansion in Crypto Investments
The purchase aligns with Abu Dhabi’s broader push into digital assets, following BlackRock’s commercial license approval in the emirate last November. BlackRock, the world’s largest asset manager, oversees the biggest spot Bitcoin ETF by assets under management, totaling nearly $56 billion, according to The Block Data Dashboard.
Mubadala’s investment in IBIT signals growing institutional confidence in Bitcoin ETFs, reinforcing Abu Dhabi’s strategic positioning as a global financial hub.
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Strategic Expansion in Crypto Investments
