- Abu Dhabi’s Wealth Fund is now the 7th largest holder of Blackrock Bitcoin ETF
- Now it stands at $461.23M outpacing major US banks like PNC and BNY Mellon
Abu Dhabi’s Wealth Fund, Mubadala Investment Company, is now the 7th largest holder of Blackrock Bitcoin ETF. Their holdings are valued at over $461 million now, outpacing major US banks like PNC and BNY Mellon.
More About the Rise of Abu Dhabi’s Wealth Fund
So, we continue to see interest in Bitcoin from institutional investors, and Bitcoin ETFs are proving to be a balanced solution for many.
According to Bloomberg Intelligence analyst James Seyffart, Abu Dhabi’s Wealth Fund, Mubadala Investment Company, is valued at $461.23M
Also according to the latest filing is the seventh-largest holder of IBIT, owning more than 8.2 million shares.
However, still, the largest holder is Goldman Sachs, with its $710 million in various funds, including BlackRock’s IBIT and Fidelity’s Wise Origin Bitcoin Fund.
Conclusion
This may continue to encourage other government and private funds to similarly prioritize Bitcoin, especially as cryptof ETFs as an attempt to diversify risk from direct ownership and management.
Moreover, we recently saw a filing for staking features for Ethereum ETFs, which could further expand the opportunity and set a new trend.
In the context of so far favorably evolving regulations primarily in the US, this is not going to stop just yet. Still, it is developing extremely dynamically.
Be aware and stay tuned for updates on the rapidly reshaping crypto landscape.
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