Abu Dhabi’s Sovereign Wealth Fund Boosts Bitcoin Exposure with BlackRock ETF

Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has revealed its growing exposure to Bitcoin through BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF), as indicated in recent 13F form filings.

Mubadala’s investment amounts to over 8.2 million shares of IBIT, valued at approximately $437 million. This represents a small portion—0.14%—of the $302 billion the fund manages.

Notably, during the Abu Dhabi Bitcoin Summit in November, reports emerged that Gulf oil nations were significantly increasing their investments in Bitcoin. Changpeng Zhao, the founder of Binance, clarified that the information pertained to one of Abu Dhabi’s numerous sovereign wealth funds.

Other influential entities in Abu Dhabi’s financial ecosystem include the Abu Dhabi Investment Authority (ADIA), the Abu Dhabi Developmental Holding Company (ADQ), and the Emirates Investment Authority (EIA). Collectively, these funds manage an estimated $1.6 trillion in assets.

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Sina G., COO of 21st Capital, commented that Abu Dhabi’s involvement signals the beginning of a “nation-state Bitcoin adoption race.” This move further confirms Abu Dhabi’s strategic efforts to establish itself as a major player in the global cryptocurrency space.

The UAE capital has already begun integrating Tether USD (USDT) stablecoin into its financial infrastructure, positioning itself as an emerging hub for crypto innovation. Moreover, initiatives like the partnership between Coinbase and Chainlink are set to foster greater institutional adoption in the region.

Alexander Stefanov