Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund focused on global investments across technology and financial services, expanded its position in iShares Bitcoin Trust (IBIT) by 46% in Q4 2025, according to a recent filing with the SEC.

As of December 31, Mubadala held around 12.7 million IBIT shares valued at over $630 million at the time of reporting. This represents an uptick from the 8.7 million shares held in Q3.

IBIT, managed by BlackRock, provides institutional and retail investors with regulated exposure to Bitcoin’s price movements through shares traded on conventional stock exchanges.

Despite recent volatility, mainly linked to Bitcoin’s price movements, the fund continues to dominate the Bitcoin ETF market with $52.4 billion in assets under management as of February 13.

Mubadala decided to double down on IBIT while a number of institutions, including Goldman Sachs and Harvard Management Company, reduced their exposure amid a challenging crypto market environment.