UAE Sovereign Funds Hold Combined $763.7 Million in Bitcoin ETF
Two Abu Dhabi sovereign wealth funds have significant positions in Bitcoin, according to recent regulatory filings. Mubadala Investment Company disclosed that it holds a $490 million stake in BlackRock's iShares Bitcoin Trust, its second-largest single holding across its entire portfolio.
The Abu Dhabi Investment Council also reported a $273.6 million position in the popular Bitcoin exchange-traded fund, which is its biggest holding. The stakes are unchanged since last quarter and reflect a growing interest in Bitcoin among major investors.
The UAE's holdings of Bitcoin primarily stem from domestic mining activity rather than confiscated assets, unlike other countries that hold large amounts of the asset.