Abu Dhabi Funds Hold Ground on BlackRock Bitcoin ETF Amid Market Declines

Abu Dhabi's sovereign investors, Mubadala Investment Company and Abu Dhabi Investment Council (ADIC), maintained their stakes in BlackRock's Bitcoin ETF through Q2 despite significant losses. The two funds held a combined 22.94 million shares of the IBIT on June 30, worth $764 million.

The value of their combined position fell by around $118 million as the ETF declined. Mubadala held 14,721,917 IBIT shares, valued at $490.1 million, while ADIC held 8,218,712 shares, worth about $273.6 million.

Both funds kept their share counts unchanged during Q2, unlike other institutions that reduced their stakes in the ETF. For example, Harvard University cut its IBIT position by 43% during the first quarter after reducing the stake late last year.