Abu Dhabi Sovereign Wealth Funds Hold $763.7 Million in Bitcoin ETFs

According to recent regulatory filings, two of Abu Dhabi's sovereign wealth funds have made significant investments in Bitcoin. Mubadala Investment Company disclosed a $490 million stake in BlackRock’s iShares Bitcoin Trust, marking it as the second-largest single holding in its entire portfolio. Meanwhile, the Abu Dhabi Investment Council revealed a $273.6 million position in the same Bitcoin exchange-traded fund (ETF), which is the largest position in its portfolio.

These holdings remain unchanged from the previous quarter. Earlier this year, Arkham Intelligence reported that approximately 6,782 Bitcoins, valued at around $453.6 million, are linked to mining activities associated with the UAE’s Royal Group. This highlights a unique approach by the UAE, as its Bitcoin assets primarily originate from domestic mining rather than law enforcement seizures, which is common in other countries like the United States.

Since the SEC approved multiple Bitcoin funds in January 2024, firms have increasingly invested in Bitcoin through regulated ETFs. BlackRock’s IBIT has emerged as the most successful crypto ETF, boasting $47.3 billion in assets under management.