Abu Dhabi sovereign wealth fund Mubadala picked up a USD 437 mn stake in BlackRock’s iShares Bitcoin Trust (IBIT) ETF, CoinDesk reports, citing a 13F filing to the US Securities and Exchange Commission (SEC). Mubadala now holds 8.23 mn shares of IBIT — making it the seventh largest holder of shares in the ETF, Bloomberg Analyst James Seyffart said on X.

What we know: The disclosure — which was published on Friday — reflects data as of 31 December 2024, indicating that Mubadala acquired the stake some time last year — sometime between the previous reporting period (October 2024) and this one.

An institutional vote of confidence: The investment marks a significant institutional endorsement of spot Bitcoin ETFs, which have become a major entry point for traditional investors into the crypto market. It also reflects Abu Dhabi’s growing appetite for digital assets and crypto-linked investments.

Is the bulge bracket warming to BTC? Mubadala’s move follows a trend in institutional adoption of crypto-related products, with banking heavyweights Barclays, Goldman Sachs and JP Morgan also raking up Bitcoin ETF holdings in recent months.

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