Mubadala Becomes One of the Largest Holders of IBIT
Abu Dhabi’s Mubadala Sovereign Wealth Fund has made a significant investment in BlackRock’s iShares Bitcoin ETF (IBIT), acquiring $436 million worth of shares. According to a recent SEC filing, Mubadala secured over 8.2 million IBIT shares during the fourth quarter of 2024, marking its first publicly disclosed Bitcoin ETF position. This move cements Mubadala’s role as the seventh-largest known holder of IBIT and signals growing institutional interest in Bitcoin investment vehicles.
UAE Strengthens Its Position as a Crypto Hub
The investment aligns with Abu Dhabi’s broader strategy to position itself as a global blockchain hub. With progressive regulations attracting major crypto businesses, the UAE continues to strengthen its foothold in the digital asset sector. Mubadala’s entry into the Bitcoin ETF space reflects the increasing role of sovereign wealth funds in crypto adoption.
Institutional Investors Continue Bitcoin Accumulation
Mubadala now joins an expanding list of institutional investors allocating funds to Bitcoin ETFs, including Goldman Sachs, Millennium Management, and Symmetry Investments. The investment has also sparked a geopolitical conversation, with U.S. Senator Cynthia Lummis highlighting the move as part of a global Bitcoin accumulation race.
Bitcoin ETFs Gain More Institutional Traction
Lummis has introduced the Bitcoin Act of 2024, a proposal to sell part of the U.S. gold reserves in exchange for 1 million BTC, aiming to secure 5% of Bitcoin’s total supply as a strategic financial reserve. While the U.S. federal government remains undecided on Bitcoin reserves, several U.S. states are advancing cryptocurrency investment policies. Over 20 states have proposed or passed legislation supporting Bitcoin investments, suggesting that institutional adoption of Bitcoin ETFs is set to accelerate throughout 2025.
