Abu Dhabi sovereign wealth fund steps into Bitcoin with a $436M ETF investment
Mubadala's investment signals growing institutional interest in digital assets within traditional finance markets.
Key Takeaways
- Mubadala Investment Company invested $436.9 million in iShares Bitcoin Trust ETF during Q1 2024.
- This is one of the inaugural crypto asset investments by a major sovereign wealth fund.
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Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, purchased $436.9 million worth of iShares Bitcoin Trust (IBIT) shares in the first quarter of 2024, according to regulatory filings.
Mubadala, which manages over $280 billion in assets, acquired 8.2 million shares of IBIT, as disclosed in its Q1 13F filing with the US Securities and Exchange Commission.
Bitcoin reacted positively to the announcement, rising 1% from the $96,700 level to $97,700.
The investment represents one of the first known allocations to crypto assets by a major sovereign wealth fund.
Mubadala’s move into Bitcoin ETFs comes as institutional investors increasingly embrace digital asset investment products in traditional finance markets.
The Abu Dhabi-based fund’s ETF purchase follows broader crypto adoption trends in the Middle East, where governments and financial institutions have shown growing interest in blockchain technology and digital assets.
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