According to a recent report with the United States Securities and Exchange Committee, the sovereign wealth fund in Abu Dhabi currently holds a large sum in Bitcoin ETF boxes in Blackrock (Trading Fund on the Stock Exchange). This purchase came in the last quarter of 2024 after Blackrock obtained asset management company to work in Abu Dhabi last November.
The sovereign wealth box buys a large share in the largest bitcoin etf company
Friday, February 14, a 13f file SEC has revealed that MUBADALA has bought 436.9 million dollars in BLACOCKK (with Ibit Ticker). Mubadala Investments is one of Abu Dhabi’s sovereign wealth funds, which makes investments on behalf of the Middle East city government.
In 2024, the world’s largest asset manager in Black Rock – with dozens of trillion dollars under management – revealed his intentions to expand in the Middle East, focusing on the capital Abu Dhabi and Ria. The last $ 437 million purchase of Bitcoin ETF highlights the Blackrock mission to work closely with sovereign wealth boxes in the region.
Source: SEC
Interestingly, this last acquisition is hardly the first time that the Abu Dhabi government – through its various investment entities – will be done to encrypted currencies. In 2023, Abu Dhabi Development Holding and Marathon Digital revealed plans to launch digital asset mining operations in the capital.
The Wisconsin Investment Council reveals $ 321 million
Interestingly, the Blackrock Bitcoin ETF company also has a fair share of local interest in the United States. On Friday, Wisconsin State Investment Council is also I mentioned Increased exposure to the first encrypted currency through the trading box for exchange.
According to the Supreme Education Council, the pension fund in Wisconsin owns about 321 million dollars in the investment funds circulating in Bitcoin. This represents a 100 % increase from ETF BTC holdings of $ 164 million (previously reported in May 2024).
From Last fileWisconsin’s pension fund held about 2.4 million ($ 100 million) of ISHARES Bitcoin Trust shares from Blackrock and 1 million shares ($ 64 million) of Grayscale’s Bitcoin Trust (GBTC). However, the latest deposit shows that the pension fund has allocated all BTC exposure to the Blackrock box trading on the stock exchange and no longer holds any shares in GBTC.
It should be noted that the price of Bitcoin has grown almost 70 % since May 2024. As of the writing of these lines, the value of the first cryptocurrency is about $ 97,250, which reflects just a 1 % increase during the past 24 hours. According to data from Coingecko, the Bitcoin price increased by almost 90 % last year.
The price of Bitcoin on the daily timeframe | Source: BTCUSDT chart on TradingView
Distinctive image from Getty Images, the tradingvief chart
