Q1 2026 U.S. SEC 13F disclosure window closes.

Abu Dhabi sovereign fund Mubadala holds 14.72 million shares of BlackRock IBIT, valued at $565.6 million—up 16% from Q4.
Its subsidiary ADIC (Abu Dhabi Investment Authority) holds another 8.2 million shares, valued at $408 million.
Together, the two sovereign funds total $974 million, approaching the $1 billion mark. The highest record of global sovereign entities publicly holding Bitcoin ETFs.
ADIC official statement: "A long-term diversified strategy similar to gold."
But one number is never included in the headline: Mubadala’s total AUM is about $300 billion, and this holding accounts for 0.19%.
And there’s an even smaller figure rarely mentioned: this $974 million, not a single BTC can be found on-chain. All in BlackRock custody accounts.
BTC’s current price is $79,000, still 37% below ATH of $126,080.
Counter to consensus: sovereign funds entering the market is not a victory for crypto faith—it’s a diversified allocation of a small 0.19% position.
Sovereign endorsement gives BTC narrative, but the actual coins are in BlackRock custody.
The world’s smartest capital has entered “Bitcoin,” but the Bitcoin protocol itself has received not a cent. #Gate广场五月交易分享 $BTC