Abu Dhabi Wealth Fund Buy $437 Millions Worth Of BlackRock’s Bitcoin ETF

Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has acquired $436.9 million worth of shares in BlackRock‘s (NYSE:BLK) spot Bitcoin (CRYPTO: BTC) exchange-traded fund during the last quarter of 2024.

What Happened: A regulatory filing released on Friday confirmed the purchase, marking one of the first known sovereign wealth fund allocations to Bitcoin-related financial products.

The investment coincided with BlackRock obtaining a commercial license to operate in Abu Dhabi in November.

BlackRock’s Bitcoin ETF, (NASDAQ:IBIT), has grown …

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