Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has increased its exposure to spot Bitcoin exchange-traded funds, raising its stake in the iShares Bitcoin Trust (IBIT), issued by BlackRock, to approximately $630.6 million, according to newly filed Q4 2025 Form 13F disclosures with the U.S. Securities and Exchange Commission.
As of Dec. 31, Mubadala reported ownership of 12,702,323 IBIT shares, marking a 46% increase from the 8.7 million shares disclosed at the end of Q3 2025. The previous holding was valued at approximately $567 million.
Institutional Allocation Expands
The latest filing confirms a continued accumulation strategy despite market volatility in early 2026. Mubadala was previously identified among the largest institutional holders of IBIT and remains one of the most significant sovereign investors in U.S.-listed spot Bitcoin ETFs.
Another Abu Dhabi-linked investment entity, Al Warda Investments RSC, also disclosed exposure to IBIT. The firm reported holding 8.2 million shares, valued at approximately $408 million.
Combined Exposure Exceeds $1 Billion
Together, Mubadala and Al Warda Investments control nearly 21 million IBIT shares, representing more than $1 billion in combined exposure to the BlackRock-managed spot Bitcoin ETF.
The filings reflect a broader institutional trend in Abu Dhabi, where sovereign and state-linked entities have gradually expanded allocations to digital assets through regulated ETF structures rather than direct custody of Bitcoin. Mubadala first disclosed IBIT purchases in late 2024 and has steadily increased its position since then, signaling a long-term allocation strategy toward Bitcoin exposure via traditional capital markets infrastructure.
The latest 13F data underscores continued sovereign participation in the spot Bitcoin ETF market as institutional demand for regulated crypto investment vehicles remains elevated.