Abu Dhabis Sovereign Wealth Fund has revealed an investment of $ 408 million in Blackrock’s Spot Bitcoin ETF, according to a new SEC archiving. The notification has appeared when US President Donald Trump participates in a state dinner at UAE’s capital at the Presidential Palace.
Abu Dhabi is one of the more crypt -friendly cities in the Middle East. Back in February, Abu Dhabi reported superb wealth fund $ 436 million in Bitcoin ETF holding. The latest archiving indicates that the city’s BTC ETF holding is now at almost $ 1 billion, with the additional 8,726,972 shares.
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Last month, USDC -IMTERCIAL Circle Got green light to serve as a money service provider in Abu Dhabi. Circle has also set up a strategic partnership with HUB71. Hub71 serves as Abu Dhabi’s foremost international technology sector. The collaboration initiative works to improve the innovation of digital asset technology at all levels. Hub71 CEO Ahmad Ali Alwan expressed that their collaboration with Circle is showing their commitment to making Abu Dhabi an international base for fintech and digital assets.
In addition, back in March, Binance confirmed That Abu Dhabis MGX had bought a share of $ 2 billion in the platform. The city’s crypto initiatives continue to grow and thrive, with bitcoin in the heart of its investment strategy.