Abu Dhabi Sovereign Wealth Fund Purchases $437M Worth of Bitcoin (BTC) ETF
JH Kim
Summary
- Abu Dhabi sovereign wealth fund reported purchasing $437 million worth of BlackRock's Bitcoin ETF.
- The purchase was made by Mubadala Investment during the first quarter of this year.
- Experts anticipate that the sovereign wealth fund's large-scale Bitcoin investment will have a positive impact on the market.
According to The Block, a cryptocurrency-focused media outlet, on the 14th (local time), the Abu Dhabi sovereign wealth fund reported in its securities holdings report (13F) that it purchased $437 million worth of BlackRock's Bitcoin ETF (IBIT) in the first quarter of this year.
The purchase was officially made by Mubadala Investment, one of the sovereign wealth funds.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.