Abu Dhabi's Sovereign Funds Hold Steady on $764M Bitcoin ETF Investment Despite Market Decline
Despite a $118 million loss in the second quarter, Abu Dhabi's Mubadala Investment Company and the Abu Dhabi Investment Council have retained their positions in BlackRock's Bitcoin ETF, ending June with nearly $764 million invested. This decision reflects confidence in the long-term potential of Bitcoin despite its current market challenges.
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Abu Dhabi’s $764M Bitcoin Bet Holds Firm Through Market Pain
Two of Abu Dhabi’s biggest sovereign investment vehicles sat through a roughly $118 million hit to their Blackrock spot bitcoin exchange-traded fund (ETF) positions in the second quarter and did not cut a single net share, leaving nearly $764 million riding on IBIT when June ended. Mubadala Investment Company and the Abu Dhabi Investment Council, […]
Bitcoin erased $118 million from Abu Dhabi’s ETF holdings, but its sovereign funds kept every share
Two Abu Dhabi sovereign investors kept their BlackRock Bitcoin ETF holdings unchanged through the second quarter, retaining $764 million of exposure even as the cryptocurrency remained mired in one of its steepest annual declines. Mubadala Investment Company and the Abu Dhabi Investment Council held a combined 22.94 million shares of BlackRock’s iShares Bitcoin Trust ETF […] The post Bitcoin erased $118 million from Abu Dhabi’s ETF holdings, but its sovereign funds kept every share appeared first on CryptoSlate .