Abu Dhabi Discloses $437M Stake in BlackRock Spot Bitcoin (BTC) ETF
02/15/2025 00:26
The ownership interest was held via Mubadala Investments, one of the country's sovereign wealth funds
The ownership interest was held via Mubadala Investments, one of the country's sovereign wealth funds
Updated Feb 14, 2025, 5:14 p.m. UTCPublished Feb 14, 2025, 5:09 p.m. UTC
What to know:
The Middle Eastern country of Abu Dhabi on Friday disclosed a $436.9 million stake in BlackRock's iShares Bitcoin ETF (IBIT) as of Dec. 31, 2024.
The stake was held via Mubadala Investments, one of the country's sovereign wealth funds, per a 13F filing with the U.S. Securities and Exchange Commission.
The price of bitcoin (BTC) has rallied about 0.5% on the news to $97,400.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
