BlackRock’s Bitcoin ETF invested $408 million, Abu Dhabi’s sovereign wealth fund shows
Mubadala, a sovereign wealth fund in Abu Dhabi, disclosed a $408.5 million stake in Ishares Bitcoin Trust (IBIT), according to a 13F document released today. The fund reported holdings of 8,726,972 shares as of March 31, 2025, an increase from 8,235,533 shares reported at the end of 2024.
This major move from Mubadala fueled the US live Bitcoin ETF, a serious inflow this May. The total collective inflows on May 2 were $674.9 million, $424.5 million on May 5 and $334.58 million on May 9, and included, including yesterday’s $319.12 million inflows. Blackrock’s Bitcoin ETF Ibit continues to be the best choice for institutional investors, making only $232.4 million.
Mubadala’s increased exposure rate is consistent with a high-level discussion between U.S. crypto policy leaders and the UAE. The newly appointed President Trump’s AI and Crypto Czar David Sacks will meet with UAE officials earlier this March 20 to explore the future of digital currencies and artificial intelligence.
“I have worked with David Sacks, special consultant for AI and Crypto, on the transformational effects of artificial intelligence among sectors, the expanding role of digital currencies in reshaping the financial system, and the development of investment opportunities that emerge in their convergence,” said X Tahnoon Bin Zayed Al Nahyan. “As technological advancements accelerate, promoting collaboration and adopting forward-looking strategies remains an important pillar for driving sustainable growth and achieving long-term impact.”
Last year, the UAE adopted a significant increase in Bitcoin adoption, including the Bitcoin MENA conference in Abu Dhabi, attracting prominent figures like Eric Trump to make enthusiastic remarks about Bitcoin. Trump argues that hesitant changes are nothing new. He shared a story about a friend dismissing Bitcoin and just saw his own bank adopt it shortly afterwards.
“People’s hell is slow and can adapt to new technologies,” said Eric Trump. “We will see banks have to adapt. The government will adapt. Those who accept this digital revolution as early as possible will be the winners.”
Trump calls Bitcoin a “global asset” that protects uncertainty and destruction, emphasizing its decentralized system to replace the high efficiency of traditional finance.
“Bitcoin is the store of value,” added Eric Trump. “It’s a hedge against inflation. It’s a hedge against political turmoil, political turmoil, God’s actions, hurricanes, fires, floods, tornadoes. That’s what makes it so powerful.”
“I believe Bitcoin will reach $1 million,” he said.
