CoinTelegraph
Abu Dhabi's Mubadala Investment Company has raised its position in BlackRock's iShares Bitcoin Trust (IBIT) to nearly $660 million, marking one of the largest disclosed sovereign wealth fund allocations to a spot Bitcoin ETF on record. The move signals that state-backed capital from the Gulf is no longer treating crypto as a peripheral experiment.
Mubadala manages roughly $300 billion in assets across energy, technology, and financial holdings. A $660 million IBIT position is a meaningful line item, not a pilot allocation — and the fact that it was raised, not initiated, suggests conviction is building rather than being tested.
For the broader Bitcoin ETF market, sovereign wealth participation changes the demand profile structurally. Retail and hedge fund flows are inherently cyclical; sovereign mandates tend to be multi-year and rebalancing-driven, providing a stickier bid beneath…
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