Abu Dhabi’s renowned wealth management firm Mubadala has invested $436.9 million in BlackRock’s BitcoinETF. Mubadala, the giant managing assets worth $330 billion, is diversifying its portfolio aggressively.
A US Securities and Exchange Commission (SEC) filing revealed Mubadala’s confidence in Bitcoin and allocation of nearly half a billion to the ETF. In the fourth quarter, the fund purchased 8.2 million shares of BlackRock’s iShares Bitcoin Trust ETF.
On 14 February 2025, Bloomberg analyst James Seyffart said, “Mubadala Investment Company, is now the 7th largest known holder of Blackrock‘s Bitcoin ETF ( $IBIT).”
Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, is now the 7th largest known holder of @Blackrock‘s Bitcoin ETF ( $IBIT) at $461.23 million https://t.co/skuQaInY88 pic.twitter.com/N8PeC7NrHv
— James Seyffart (@JSeyff) February 14, 2025
Explore: BlackRock’s Spot Bitcoin ETF Saw Over $37 Billion in Net Inflows in 2024
Growing Enthusiasm For Bitcoin ETFs
Approved last year, Bitcoin ETFs appeal as a regulated and accessible way to gain exposure to Bitcoin has increased with institutional capital.
Mubadala is not alone in its enthusiasm for BlackRock’s iShares Bitcoin ETF. The fund emerged as the dominant player in the cryptocurrency ETF market, recording over $37 billion in net inflows in 2024, according to data from Farside Investors.
According to Bloomberg Intelligence, by November, US Bitcoin ETFs surpassed $100 billion in net assets for the first time. Importantly, spot Bitcoin ETFs have dominated the ETF landscape in 2024, with six of the top ten launches being BTC-focused.
Furthermore, the fund has attracted some of the most prominent institutional investors globally.
As of the fourth quarter of 2024, Millennium Management emerged as the largest holder with $1.58 billion invested, followed by Brevan Howard Capital Management ($1.39 billion), Goldman Sachs ($1.28 billion), Susquehanna International Group ($899.6 million), and Jane Street ($854 million).
Explore: Ethereum and Bitcoin ETFs See Record-Breaking Inflows
Mubadala Invests In Crypto, AI, Data Centers, Space Exploration
The future of investing is AI-driven.
Our latest white paper, #AlphaIntelligence: The Investment Fund of the Future, unpacks how #AI is reshaping decision-making and creating new opportunities in the #investment world.
Read chapter 4: https://t.co/s8O0z3DwF8 #Investing pic.twitter.com/bfP7A0aVGe
— Mubadala (@Mubadala) February 1, 2025
Recently, the company released a white paper. It encompassed how Artificial Intelligence (AI) is reshaping decision-making and creating new opportunities in the investment world.
Meanwhile, Phoenix Group, a popular Bitcoin mining company based in the UAE, reported a staggering 236% increase in its 2024 revenues.
Furthermore, during the Abu Dhabi Finance Week (ADFW) tech leaders observed that Abu Dhabi is continuing to position itself as a leading hub for financial innovation and technology.
“Fintech Abu Dhabi exemplifies our dedication to innovation, bringing global visionaries together to shape the future of finance and technology. We aim to facilitate meaningful conversations that continue to strengthen a thriving ecosystem coupled with progressive frameworks and a dynamic business environment,” said Salem Mohammed Al Darei, CEO of ADGM Authority.
Explore: Direct From Abu Dhabi Finance Week: Is MENA The Next World Crypto Hub?
Key Takeaways
- Mubadala is not the only Abu Dhabi-based entity making waves in the digital asset space. The Abu Dhabi Developmental Holding Company (ADQ), another sovereign wealth fund, has also been investing in cryptocurrency infrastructure.
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The influx of institutional capital into Bitcoin ETFs like BlackRock’s iShares product is widely seen as a positive development for the cryptocurrency market.
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