Abu Dhabi Fund Quietly Grows Stake in Leading Bitcoin ETF

Mubadala Investment Company, one of Abu Dhabi’s largest state-backed investors, has been quietly deepening its position in BlackRock’s flagship Bitcoin ETF—even as the market cooled in early 2025.

A regulatory disclosure from the U.S. Securities and Exchange Commission shows the fund acquired nearly half a million new shares in the iShares Bitcoin Trust during the first quarter. That brings Mubadala’s total exposure in the ETF to over 8.7 million shares, making it a notable institutional backer of the product.

Although the share count rose, the value of the holdings dipped by the end of March due to a downturn in the ETF’s price. Still, with Bitcoin trading above $103,000, the fund’s position is now estimated to exceed $500 million.

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These figures come from a 13F filing—a quarterly requirement for firms managing at least $100 million in U.S. equities. While informative, such reports only reveal long positions and leave out shorts and most derivatives, offering a limited view of full portfolio strategies.

BlackRock’s ETF has rapidly become the market leader among spot Bitcoin products in the U.S., drawing over $45 billion in net inflows and amassing $65 billion in assets since its launch in early 2024.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.