Catenaa, Tuesday, May 20, 2025-Mubadala Investment Company, one of Abu Dhabi sovereign wealth funds, significantly increased its exposure to BlackRock’s Bitcoin ETF during the first quarter, according to a regulatory filing released last Thursday.
The fund acquired an additional 491,439 shares of BlackRock’s iShares Bitcoin Trust (IBIT), valued at $28.8 million, raising its total holdings to 8,726,972 shares.
The shares were worth $408.5 million as of March 31 but have appreciated to roughly $512 million based on current market prices.
Despite a dip in IBIT’s value during the quarter, the increased holding underscores Mubadala’s direct and discretionary commitment to Bitcoin exposure. The ETF closed at $58.67 on Thursday. Bitcoin itself is currently trading at $103,525.
BlackRock’s IBIT has attracted more than $45.5 billion in net inflows since its launch in January 2024 and manages $65.4 billion in assets. It leads the US spot Bitcoin ETF market by both volume and institutional interest.
Other notable institutional investors also disclosed positions in IBIT.
Avenir, based in Hong Kong, now holds 14.7 million shares, while Citadel Advisors expanded its stake to 3.1 million shares. In contrast, the State of Wisconsin Investment Board exited its $321 million IBIT position by March 31.
Goldman Sachs remains the largest IBIT holder, with 30.8 million shares valued at about $1.4 billion. Analysts say institutional inflows validate Bitcoin as a mainstream investment, despite rebalancing by some entities.
