Abu Dhabi reveals a 436.9 million dollar stake in Blackrock Bitcoin ETF, and Wisconsin expands the IBIT share
In a recent update, Abu Dhabi revealed on Friday a huge share of $ 436.9 million in ISHARES Bitcoin ETF from Blackrock (IBIT) as of December 31, 2024. It was invested through Maabadal investments, one of the country’s sovereign wealth funds, according to I mentioned A 13F presentation With a second. The company is investing on behalf of the Abu Dhabi government, which is the capital of the United Arab Emirates.
Bitcoin interacts with news
In the reaction, the Bitcoin price jumped about 1 %, and reached $ 97700, following the news. It is worth noting that the purchase process follows the Blackrock Security Owning a business license to work in Abu Dhabi last November. Blackrock runs the largest group of Bitcoin ETF, with approximately $ 56 billion of assets. It is worth noting that the investment represents one of the first well -known allocations for the assets of encryption by the main sovereign wealth fund.
Although this may be one of the largest encryption investments in Abu Dhabi, it is not the first step for the city in digital assets. In 2023, Abu Dhabi also invested in Bitcoin Mining, with Digitter Marathon plans and two plans announced for the city’s main mining complex. Premium implicit Other SWFS based on Abu Dhabi can follow.
Buy Abu Dhabi in our favor?
Bitcoin Anthony Boxbrano defender believes that Abu Dhabi’s purchase will benefit the American Strategic Reserve Initiative. “Abu Dhabi’s sovereign wealth fund has just revealed that they are buying hundreds of millions of dollars from bitcoin and people still believe that the United States will not buy Bitcoin. Anthony Box noted that the strategic bitcoin reserves on social media.
Moreover, Pompaniano pointed out that the largest sovereign wealth box in the world is now investing in Bitcoin, and highlights only 21 million bitcoin currencies. “I wonder what is happening now that national countries are here,” participated.
This step is in line with the broader trend of increasing the dependence of encryption in the Middle East, where governments and financial institutions show more attention in digital and digital assets.
Weskonsen increases its share in Ibit
Moreover, the Wisconsin State Council (SWIB) has increased its share in ISHARES Bitcoin Trust (IBIT) from Blackrock by adding more than 3 million shares, which reaches 6 million shares worth more than 321 million dollars on December 31, 2024, according to To the last SEC file. Notaby, the Wisconsin Council diversified its encryption investments outside IBIT, with classes in Coinbase, Mara Holdings, RobinHood and Block Inc.
