Mubadala Invests $436M in Bitcoin ETF, Signaling Institutional Crypto Adoption
Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has made a significant move into the cryptocurrency market, purchasing $436.9 million worth of shares in the iShares Bitcoin Trust (IBIT) during the first quarter of 2024. This marks one of the first known crypto asset investments by a major sovereign wealth fund.
According to regulatory filings, Mubadala—managing over $280 billion in assets—acquired 8.2 million IBIT shares, as disclosed in its Q1 13F filing with the U.S. Securities and Exchange Commission. Following the news, Bitcoin saw a slight uptick, rising 1% from $96,700 to $97,700.
Mubadala’s foray into Bitcoin ETFs highlights the increasing acceptance of digital assets within traditional finance. This investment aligns with broader trends in the Middle East, where governments and financial institutions are showing greater interest in blockchain technology and cryptocurrency.
As institutional adoption accelerates, Mubadala’s investment could pave the way for other sovereign wealth funds to explore digital asset exposure.
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