Summary
- Two Abu Dhabi sovereign wealth funds were reported to hold more than $1 billion of BlackRock’s spot bitcoin (BTC) ETF, IBIT.
- Mubadala was said to hold 12.7 million IBIT shares (about $631 million), while Al Warda Investments holds 8.22 million shares (about $408 million).
- The combined holdings exceed $1 billion, and this is interpreted as an example of Middle Eastern sovereign wealth funds expanding investments in U.S. spot bitcoin ETFs.
Two Abu Dhabi sovereign wealth funds were found to hold more than $1 billion of BlackRock’s spot bitcoin (BTC) ETF, IBIT, as of the end of last year.
According to The Block, a digital-asset (cryptocurrency) specialist outlet, on the 17th (local time), Abu Dhabi state fund Mubadala holds 12.7 million shares of BlackRock’s IBIT, worth about $631 million. Al Warda Investments, under the Abu Dhabi Investment Council (ADIC), holds 8.22 million shares, equivalent to about $408 million.
Combined, the two institutions’ holdings top $1 billion. This is seen as an example of Middle Eastern sovereign wealth funds expanding investments in U.S. spot bitcoin ETFs.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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