Mubadala First Discloses a Major Position in BlackRock’s Bitcoin ETF
Abu Dhabi sovereign wealth investor Mubadala disclosed a large position in BlackRock’s iShares Bitcoin Trust in a February 13F filing covering holdings as of December 31, 2024. The filing brought sovereign-wealth capital visibly into the U.S. spot Bitcoin ETF ownership story.
Mubadala Investment Company, the Abu Dhabi sovereign wealth investor, filed its Form 13F on February 14 for the quarter ending December 31, 2024. The filing disclosed a substantial position in BlackRock’s iShares Bitcoin Trust, making public an indirect Bitcoin exposure that had been accumulated before the disclosure date.
That timing distinction is important. February 14 was not necessarily the day Mubadala bought the shares. It was the day the position became public through U.S. securities disclosure. The historical event is therefore the revelation that a major sovereign wealth institution had entered the spot Bitcoin ETF market.
The disclosure mattered because the U.S. spot ETF structure had been live for only a little more than a year. What began in January 2024 as a new regulated access channel was by early 2025 appearing in the portfolios of increasingly large and geographically diverse institutions. Mubadala’s participation extended that story beyond traditional U.S. asset managers and pensions into sovereign investment capital from the Gulf.
The record should remain focused on what was actually disclosed: ownership of shares in a regulated Bitcoin ETF, not direct custody of bitcoin by the Abu Dhabi government.