Key dealers
- Mubadala Investment Company invested $ 436.9 million in Ishares Bitcoin Trust ETF during the first quarter of 2024.
- This is one of the initial crypto access investments of a large superb wealth fund.
Mubadala Investment Company, Abu Dhabis Sovereign Wealth Fund, bought $ 436.9 million in Ishares Bitcoin Trust (Ibit) shares in the first quarter of 2024, according to regulatory applications.
Mubadala, which manages over $ 280 billion in assets, acquired 8.2 million shares in Ibit, which is revealed in Q1 13F archiving With US Securities and Exchange Commission.
Bitcoin reacted positively to the announcement and rose 1% from $ 96,700 to $ 97,700.
The investment represents one of the first known allocations to crypto assets of a large sovereign wealth fund.
Mubadala’s move to Bitcoin ETFs comes when institutional investors increasingly include digital asset investment products in traditional financial markets.
The Abu Dhabi-based Fund’s ETF purchase follows broader trends for crypto adoption in the Middle East, where governments and financial institutions have shown a growing interest in blockchain technology and digital assets.