Abu Dhabi’s Mubadala Invests $436 Million in BlackRock’s Bitcoin ETF
Abu Dhabi’s Mubadala Sovereign Wealth Fund has invested $436 million in BlackRock's iShares Bitcoin ETF (IBIT), making it the seventh-largest holder of this ETF. This investment, revealed in a February 14 SEC filing, secured over 8.2 million IBIT shares in Q4 2024.
- Mubadala joins major institutional investors such as Goldman Sachs and Millennium Management.
- This move reflects growing interest in digital assets among large financial entities.
- Binance founder Changpeng Zhao suggested that other Abu Dhabi sovereign wealth funds may also invest in Bitcoin ETFs.
- UAE aims to be a global blockchain hub with progressive regulations for crypto businesses.
- US Senator Cynthia Lummis noted a global Bitcoin race and introduced the Bitcoin Act of 2024, proposing the sale of part of US gold reserves to acquire Bitcoin.
- Over 20 US states are advancing legislation to support cryptocurrency investments.
This trend indicates a shift towards institutional Bitcoin adoption worldwide, with growing state-level initiatives in the US contributing to its potential as a leading pro-Bitcoin nation.