Mubadala Invests $436M in Bitcoin via BlackRock ETF

Abu Dhabi's sovereign wealth fund, Mubadala Investment Company, has revealed a significant investment in Bitcoin through BlackRock's spot Bitcoin ETF. According to a quarterly report filed with the Securities and Exchange Commission, Mubadala purchased $436 million worth of shares in the iShares Bitcoin Trust ETF during the fourth quarter of 2024. This investment totals 8.2 million shares, indicating a fresh addition to Mubadala's portfolio, as no holdings in BlackRock's Bitcoin ETF were disclosed in the previous quarter.

Mubadala's move comes amidst global discussions on the potential of cryptocurrencies, including Bitcoin, as strategic reserves. As other countries explore the possibility of investing in cryptocurrencies, Abu Dhabi's sovereign wealth fund has joined the race by allocating a substantial amount to Bitcoin. This investment signals a growing interest in cryptocurrencies among Middle Eastern countries, with the United Arab Emirates (UAE) emerging as a hub for blockchain technology and innovation.

While the U.S. government is considering the establishment of a strategic crypto reserve, several states have independently explored the idea of investing in cryptocurrencies. Although two states have rejected Bitcoin reserve bills, similar legislation is pending or actively being considered in 21 states, reflecting a broader interest in cryptocurrencies across the country.