Abu Dhabi wealth fund climbs Bitcoin ETF leaderboard flexing $460m stake

Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has emerged as one of the largest institutional investors in BlackRock’s iShares Bitcoin Trust.

Its holdings are valued at over $461 million, according to Bloomberg Intelligence analyst James Seyffart.

Mubadala now ranks as the seventh-largest known holder of IBIT, owning more than 8.2 million shares, filings show.

This is a significant step for a state-backed entity investing in Bitcoin through ETFs, rather than directly holding the cryptocurrency.

Mubadala is a state-owned global investment firm managing a multi-billion-dollar portfolio across the technology, energy, and infrastructure sectors.

It follows a broader trend of traditional financial giants increasing exposure to Bitcoin ETFs.

Goldman Sachs remains the top institutional Bitcoin ETF holder, with $710 million in various funds, including BlackRock’s IBIT and Fidelity’s Wise Origin Bitcoin Fund.

Meanwhile, PNC Bank — another top 10 US bank by assets — has ramped up its Bitcoin ETF exposure from $10 million to $67 million in the past year.

US spot Bitcoin ETFs have seen $41 billion in inflows since their approval in January 2024, suggesting rising institutional confidence in Bitcoin as an investment vehicle.

While the US and other financial institutions continue accumulating Bitcoin ETFs, some countries are taking a different approach — buying Bitcoin directly.

Galaxy Research predicts that by 2025, at least five nation-states will add Bitcoin to their reserves, citing diversification, trade settlement, and strategic competition as key drivers.

Even Donald Trump has floated the idea of a national Bitcoin reserve, though analysts suggest the country might start by leveraging Bitcoin already seized by law enforcement agencies.

Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.