Abu Dhabi's sovereign investor Mubadala Investment Co. and a separately managed unit increased their ownership of BlackRock's iShares Bitcoin Trust ETF during the fourth quarter of 2025, according to a filing covering holdings as of December 31.
In the regulatory filing, Mubadala is shown to have boosted its position in the ETF by 46% to 12.7 million shares. The Abu Dhabi Investment Council, an independently-run unit of Mubadala, also raised its stake via a subsidiary, growing its holding by 3% to 8.2 million shares.
Taken together, the two Abu Dhabi investors held a combined stake valued at more than $1 billion, based on information contained in the funds' filings. The filings did not disclose the specific prices at which the shares were acquired.
The additions came amid a period of sharp weakness for the cryptocurrency market. The ETF, which tracks the value of Bitcoin, declined by more than 23% in the fourth quarter of 2025 and has fallen by over a fifth so far in 2026. Bitcoin itself has come under pressure after peaking in October at $126,000, sliding through a four-week downturn to trade as low as $67,000 amid broader market volatility.
Separately, Abu Dhabi’s investment ecosystem has shown increased activity in the cryptocurrency sector. ADIC’s chief executive, Saeed Al Mazrouei, said earlier this month that the fund is making bold investments in several sectors, including blockchain startups. Abu Dhabi manages funds that oversee nearly $2 trillion in assets, and some of those entities have expanded their exposure to crypto-linked investments.
One related example cited in filings shows MGX, an artificial intelligence investor co-created by Mubadala, acquired a $2 billion stake in Binance in 2025. That transaction is part of a broader pattern of Abu Dhabi-linked capital moving into cryptocurrency-related businesses and services.
While the sovereign investors increased ETF holdings during a period of falling prices, the filings and public comments do not provide details on timing or purchase prices for the additional shares, leaving the precise entry points and cost basis for the added positions unspecified.
Reporter: Marcus Reed