Abu Dhabi Sovereign Funds Hold Bitcoin ETF Stake Through Q2 Slide
Mubadala and Abu Dhabi Investment Council kept 22.94 million BlackRock iShares Bitcoin Trust shares in Q2 despite a $118 million value drop.
Two Abu Dhabi state-linked investors maintained their positions in BlackRock's spot Bitcoin ETF throughout the second quarter, even as the value of their holdings fell by $118 million due to bitcoin's price decline.
According to recent regulatory filings, Mubadala Investment Company and the Abu Dhabi Investment Council together held 22.94 million shares of the iShares Bitcoin Trust ETF at the end of Q2. The combined exposure was valued at approximately $764 million at that time.
Key holdings details
- Mubadala and Abu Dhabi Investment Council each reported unchanged ETF share counts.
- The $118 million decline reflects bitcoin's drop during the second quarter.
- The funds' decision suggests a long-term approach to digital asset exposure.
Bitcoin experienced a pronounced downturn during the period, yet the two sovereign investors did not trim their positions. Their retention contrasts with some other institutional players who adjusted crypto exposure during the same timeframe.
The filings offer a rare look into how Middle Eastern sovereign wealth funds are approaching bitcoin through regulated investment vehicles. BlackRock's ETF has become a common conduit for such investors seeking exposure to the asset class.