Abu Dhabi sovereign wealth funds hold steady on spot bitcoin ETFs
Two Abu Dhabi sovereign wealth funds held onto their large positions in BlackRock’s spot bitcoin ETF through the second quarter despite sliding crypto prices during that period:
Mubadala Investment Company reported owning 14.72 million shares of the iShares Bitcoin Trust (IBIT) as of June 30, worth about $490 million at the time, according to a Friday regulatory filing. The position was unchanged from the previous quarter and ranked as the second-largest holding in Mubadala’s 13F portfolio:
That followed a Thursday filing from the Abu Dhabi Investment Council (ADIC), which held 8.22 million IBIT shares worth $273.6 million at the time, also unchanged from the first quarter. IBIT was the largest position disclosed in ADIC’s 13F portfolio:
