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Abu Dhabi has purchased a $436.9 million stake in BlackRock’s iShares Bitcoin ETF (IBIT), as of December 31, 2024.
The investment was made through Mubadala Investments, one of Abu Dhabi’s sovereign wealth funds.
The information was disclosed in a 13F filing with the US Securities and Exchange Commission (SEC).
Impact of the news:
The price of Bitcoin (BTC) rose 0.5% after the announcement, reaching $97,400.
The investment indicates that Middle Eastern investors are interested in Bitcoin and crypto assets.
BlackRock’s Bitcoin ETF could play a significant role in increasing institutional investment in the crypto market.
Key points:
Mubadala Investments is an Abu Dhabi sovereign wealth fund, which is active in global investments.
BlackRock’s iShares Bitcoin ETF (IBIT) is a spot Bitcoin ETF that directly tracks the price of Bitcoin.
This investment could further strengthen confidence in the crypto market and increase the trend of institutional investment.
This news is a positive sign for the crypto market, as large institutions are now viewing Bitcoin as a long-term investment.