Abu Dhabi Sovereign Wealth Fund Stockpiles $436 Million in BlackRock Bitcoin ETF Shares – BitRss

Mubadala Investment Company, the sovereign wealth fund that manages investments for the Abu Dhabi’s government, signaled on Friday that it started stockpiling exposure to Bitcoin last year via the leading ETF.

During the fourth quarter of last year, Mubadala scooped up $436 million worth of BlackRock’s spot Bitcoin ETF, according to a quarterly report disclosing U.S. equity ownership filed with the Securities and Exchange Commission.

Totaling 8.2 million in shares of the Nasdaq-listed iShares Bitcoin Trust ETF, it appeared that Friday’s disclosure represented a fresh investment by Mubadala in the product. A filing from the previous quarter did not disclose holdings in BlackRock’s $56.3 billion spot Bitcoin ETF.

Mubadala did not immediately respond to a request for comment from Decrypt.

As President Donald Trump’s administration mulls the prospect of a so-called strategic crypto reserve, which may include Bitcoin alongside other cryptocurrencies, some market participants described Mubadala’s move as ind…