Abu Dhabi Investment Tripled IBIT Holdings in Q3 as Bitcoin Headed to Record High

Why It Matters

The move signals growing sovereign‑wealth endorsement of crypto assets, potentially encouraging broader institutional adoption and adding credibility to Bitcoin ETFs as a diversification tool for large investors.

Summary

Abu Dhabi Investment Council’s vehicle Al Warda Investments more than tripled its stake in BlackRock’s iShares Bitcoin Trust (IBIT) in Q3, raising its holding to just under 8 million shares worth $517.6 million, a 230% increase. The council, a subsidiary of sovereign‑wealth group Mubadala, said it views bitcoin as a store of value comparable to gold and plans to keep it in its near‑ and long‑term portfolio. The purchase came as bitcoin surged toward a record $126,000 in October before falling below $90,000 in November, and follows similar large institutional allocations such as Harvard’s $443 million IBIT position. Despite a recent 30% price drop and outflows from the ETF, IBIT recorded its first net inflow since early November.