UAE Wealth Funds Pile into BlackRock’s Bitcoin ETF Despite Crypto Winter

The United Arab Emirates (UAE) is continuing to invest heavily in Bitcoin through its sovereign wealth funds. According to recent 13F filings, Mubadala reported owning 14.7 million shares of BlackRock's iShares Bitcoin ETF (IBIT), valued at $490M. This represents the second-largest holding by value for Mubadala in the latest 13F filings.

The Abu Dhabi Investment Council also owns a significant stake in IBIT, with 8.2 million shares worth $273.6M. Collectively, the two funds have invested over $763.6M in BlackRock's Bitcoin ETF. This is not a new trend for the UAE, as its wealth funds have been bullish on BTC since 2025.

The renewed interest in BlackRock's Bitcoin ETF comes after a sharp decline in August last year when BTC dropped from over $126K to below $100K. Despite this, institutional investors continued to show interest in IBIT, with an increase of 13% in institutional ownership in August. This uptick in demand may offer hope to BTC bulls.