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crypto.news 2025-05-16 07:41:42

Abu Dhabi wealth fund Mubadala invests $408.5M in Bitcoin via BlackRock’s IBIT ETF

Abu Dhabi’s Mubadala Investment Company has boosted its stake in BlackRock’s iShares Bitcoin Trust, indicating continued interest in crypto from one of the world’s largest sovereign wealth funds. According to a May 15 filing with the Securities and Exchange Commission, as of Mar. 31, Mubadala held 8.7 million IBIT shares worth $408.5 million. That’s an increase from 8.2 million shares at the end of 2024. While the number of shares rose, the total value dipped from $436 million due to fluctuations in IBIT’s price, which closed at $58.86 on May 15, according to Yahoo Finance data . The IBIT investment is a small part of Mubadala’s portfolio, which consists of more than $300 billion in total assets under management. Even so, it’s among the biggest Bitcoin ( BTC ) ETF allocations ever made by a sovereign wealth fund. Investing in IBIT allows funds like Mubadala to obtain exposure to Bitcoin without actually holding the cryptocurrency. You might also like: Abu Dhabi launches new Dirham-backed stablecoin project, backed by major institutions It offers the liquidity and ease of use of a conventional ETF without the hassle of private keys, custody, and compliance. Since its launch in early 2024, IBIT has grown to become one of the most traded spot Bitcoin ETFs, with over 33 million shares traded every day. While Mubadala’s IBIT position has grown, other entities seem to be stepping back. In Q1 of 2025, the State of Wisconsin Investment Board sold all of its shares in IBIT, which amounted to over 6 million shares valued at $355.6 million. This represents a sharp reversal from its previous aggressive accumulation strategy. Meanwhile, more governments are warming up to crypto. In the U.S., president Donald Trump is pushing for the creation of a national Strategic Bitcoin Reserve. On the regulatory front, U.S. banks can now custody crypto more easily after policy changes, and the state of Missouri is working to remove capital gains tax on digital assets like Bitcoin. Read more: XRP dips as U.S. court rejects Ripple-SEC settlement bid over procedural misstep

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