Two Abu Dhabi funds hold more than $1 billion in BlackRock's Bitcoin ETF

Two investment funds based in Abu Dhabi held more than $1 billion in BlackRock’s leading Bitcoin spot ETF shares at the end of last year, according to the latest disclosed filings.

Mubadala Investment Company reported owning 12,702,323 IBIT shares, valued at approximately $631 million. Meanwhile, Al Warda Investments held 8,218,712 shares, equivalent to about $408 million, according to 13F reports filed with the U.S. Securities and Exchange Commission.

Mubadala alone increased its IBIT holdings by 46% compared to the previous quarter. BlackRock’s Bitcoin spot ETF is currently the largest fund in the market, with about $58 billion in assets under management, although its value has decreased significantly following Bitcoin’s recent price correction.

The 13F report is a quarterly filing required for organizations managing $100 million or more in assets, reflecting stock and stock option positions at the end of the period but not providing a complete picture of the entire portfolio strategy.