- Mubadala of Abu Dhabi is presently positioned seventh among BlackRock’s Bitcoin ETF stakeholders.
- Its assets exceed those of prominent U.S. financial institutions such as PNC and BNY Mellon.
The sovereign wealth fund of Abu Dhabi, Mubadala Investment Company, has emerged as one of the most significant institutional backers of BlackRock’s iShares Bitcoin Trust.
As per insights from Bloomberg intelligence analyst James Seyffart, its asset valuation has surpassed $461 million.
Mubadala is now acknowledged as the seventh-largest possessor of the recognized IBIT, holding over 8.2 million shares, according to pertinent documents.
This represents a noteworthy advancement, as a government-supported entity invests in Bitcoin via an ETF instead of owning the cryptocurrency outright.
Mubadala is a state-controlled global investment firm overseeing billions of dollars within a varied portfolio spanning sectors like technology, energy, and infrastructure.
This illustrates a wider trend among conventional financial powerhouses amplifying their investments in Bitcoin ETFs.
Goldman Sachs continues to be the foremost institutional owner of Bitcoin ETFs, managing $710 million across multiple funds, including BlackRock’s IBIT and Fidelity’s Wise Origin Bitcoin Fund.
Meanwhile, PNC Bank—another leading U.S. bank by assets—has boosted its Bitcoin ETF investment from $10 million to $67 million over the last year.
Following the authorization of the U.S. spot Bitcoin ETF in January 2024, inflows have reached $41 billion, showcasing increasing institutional faith in Bitcoin as an investment vehicle. Crypto Analyst Evaluates Solana and Ethereum Across Eight Essential Benchmarks
While U.S. and other financial entities are enhancing their Bitcoin ETF holdings, some nations are adopting an alternative strategy—directly acquiring Bitcoin.
Galaxy Research anticipates that by 2025, at least five nations will integrate Bitcoin into their reserves, citing diversification, trade settlement, and strategic rivalry as primary motivators.
Even Donald Trump has suggested the concept of creating a national Bitcoin reserve, though experts think that the authorities might initially use Bitcoin seized by law enforcement.
Kyle Baird serves as the weekend editor for DL News. Should you have any insights, feel free to reach out to him through email at [email protected].
