Mubadala Discloses a Major Position in BlackRock’s Bitcoin ETF
Abu Dhabi sovereign wealth fund Mubadala disclosed roughly $408 million of exposure to BlackRock’s IBIT, placing a major sovereign investment institution inside the spot Bitcoin ETF market.
On May 15, 2025, a U.S. securities filing disclosed that Abu Dhabi’s Mubadala Investment Company held a large position in BlackRock’s iShares Bitcoin Trust. The position was worth roughly $408 million at the end of the reporting period.
The filing date is important: the disclosure became public in May, but the filing did not establish that Mubadala bought the shares on May 15. The historical event is therefore the public revelation that a major sovereign wealth institution had accumulated substantial regulated Bitcoin exposure through a U.S.-listed spot ETF.
Mubadala’s position added a new dimension to institutional adoption. Spot Bitcoin ETFs had already attracted asset managers, hedge funds, pension funds, and other professional investors; a sovereign wealth fund represented government-linked capital using the same regulated vehicle. The event demonstrated that Bitcoin exposure was moving beyond private financial institutions and corporate treasuries into the portfolios of large state-owned investment organizations.