- Mubadala’s stake in BlackRock’s iShares Bitcoin Trust (IBIT) ETF grows to 8.2 million shares worth $436.9 million.
- In the first quarter of 2025, Mubadala increased its IBIT holdings by around 491,439 shares.
- BlackRock’s IBIT is currently the largest spot Bitcoin ETF by assets under management, surpassing $56 billion.
Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, disclosed via a U.S. SEC 13F filing that it holds a substantial amount of Bitcoin. The filing shows Mubadala has approximately 8.2 million shares, valued at $436.9 million in BlackRock’s iShares Bitcoin Trust ETF (IBIT) at the close of Q4 2024.
In the first quarter of 2025, Mubadala increased its IBIT holdings by around 491,439 shares, boosting the total to 8,726,972 shares. As of March 31, those shares were worth ~$408.5 million. The fluctuation in dollar value reflects ETF price movements rather than share count changes. BlackRock’s IBIT is currently the largest spot Bitcoin ETF by assets under management, surpassing $56 billion, according to The Block Data Dashboard.
Why are sovereign wealth funds investing in Bitcoin?
The launch of U.S. spot Bitcoin ETFs in January 2024 provided a regulated, transparent path for institutional entry into crypto. Sovereign wealth funds, long anchored in traditional assets, are now diversifying into digital alternatives. Bitcoin ETFs provide crypto exposure, help with portfolio diversification, and offer liquidity.
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The UAE has adopted an open and progressive stance toward crypto. Regulations require crypto service providers to be incorporated locally, fostering a structured ecosystem. The country has actively invested in digital infrastructure, from licensing BlackRock in Abu Dhabi to launching its own dirham-backed stablecoin, AE Coin.
Other sovereign funds and institutional exposure
Middle Eastern sovereign funds, like ADQ and Abu Dhabi Investment Authority (ADIA), have been focusing on blockchain infrastructure and indirect crypto exposure so far. And it’s not just the Middle-East, sovereign wealth funds like Norway’s Norges Bank Investment Management have substantial indirect exposure to Bitcoin by investing in companies, such as MicroStrategy. The Himalayan country of Bhutan also holds over 10,635 BTC, valued at more than $1 billion through its sovereign wealth fund.
