Abu Dhabi Funds Rise During the Downturn: BlackRock Bitcoin ETF Surpasses $1 Billion
Two Abu Dhabi-based giant funds have taken positions exceeding $1 billion in BlackRock's spot Bitcoin ETF (IBIT) as Bitcoin falls in the final quarter of 2025.
According to recent 13F filings with the U.S. Securities and Exchange Commission (SEC), Mubadala Investment Company and Al Warda Investments held a combined stake of over 20 million shares in BlackRock's iShares Bitcoin Trust (IBIT) fund by the end of the year. The combined value of these two positions exceeded $1 billion by the end of 2025.
Mubadala Investment Company, an Abu Dhabi government-backed sovereign wealth fund, increased its stake in IBIT by approximately 46 percent in the fourth quarter, reaching 12,702,323 shares. This position was valued at approximately $631 million. During the same period, Al Warda Investments reached a size of approximately $408 million with 8,218,712 shares. Thus, the total exposure of the two funds exceeded the $1 billion threshold.
Buying Entries While Bitcoin Falls
What's noteworthy is that these purchases were made while the Bitcoin (BTC) price had fallen by approximately 23 percent during the quarter. With further declines in BTC in the first months of 2026, the total value of these positions has dropped to around $800 million.
While 13F reports only cover long positions in US-traded stocks and options and therefore don't represent the entire portfolio, this data reveals continued interest from institutional investors in spot Bitcoin ETFs.
BlackRock's IBIT fund, with approximately $58 billion in assets under management, is the largest vehicle for regulated Bitcoin investment in the US. Despite low market volatility, weakening individual investor interest, and macroeconomic uncertainties, some large funds appear to be viewing the pullbacks as long-term accumulation opportunities.
