Mashreq Capital Makes Bold Move: UAE Asset Manager Adds Bitcoin to Retail-Facing Fund
Institutional adoption gets a Middle Eastern accent.
A major UAE-based asset manager just made a play for the retail investor's wallet—and it's betting on Bitcoin to do it. Mashreq Capital, the investment arm of one of the region's oldest financial institutions, has integrated the original cryptocurrency into a new fund designed for everyday investors.
The Strategy Shift
This isn't a niche crypto fund for the daring few. The move signals a deliberate pivot toward mainstream financial products, bringing digital asset exposure to portfolios that traditionally held conventional stocks and bonds. It's a structured entry point, bypassing the complexity of direct custody and exchanges.
Why This Matters
The inclusion acts as a de facto stamp of legitimacy from a regulated entity in a major financial hub. It provides a familiar, fund-based wrapper for an asset class many still view as volatile. For the local market, it's a significant step in bridging the gap between traditional finance and the digital asset ecosystem.
The Bigger Picture
This follows a regional trend of Gulf states positioning themselves as forward-looking crypto hubs. By offering regulated access, firms like Mashreq aren't just chasing returns—they're building infrastructure. It's a calculated embrace of asset diversification, even if the traditional finance old guard might call it a desperate hunt for yield in a low-rate world.
The bottom line? When established capital managers start repackaging Bitcoin for the masses, the narrative shifts from speculation to allocation. Whether it's visionary or just another product to gather assets under management—well, that depends on your level of cynicism.
Mashreq Capital offers exposure to different asset classes
BITMAC is offering both Bitcoin and gold. BITMAC will maintain a diversified allocation of 90% across global equities and global fixed income, 5% in gold, and 5% in Bitcoin.
Philip Philippides, CEO at Mashreq Capital, noted, “Retail investors can find it challenging to balance their risk appetite and asset allocation choices within, as well as across, asset classes, a difficulty that becomes even more complex with the inclusion of the new digital assets that offer higher potential returns but at much higher risk. BITMAC is one of the first funds globally to include bitcoin alongside traditional investments. It offers a one-stop solution within a simple, DFSA-regulated fund structure, professionally managed to systematically rebalance and control risk.”
Earlier this year, DeFi Technologies announced that it had opened an office alongside its subsidiary Valour to offer digital asset ETPs across regulated exchanges in the GCC region.
UAE sovereign wealth funds investing in Bitcoin ETFs
Both the Abu Dhabi Investment Council (ADIC), owned by Mubadala, a sovereign wealth fund, and Mubadala itself have invested in BlackRock’s iShares Bitcoin Trust ETF. Both entities have purchased more than 16 million shares, according to regulatory filings.
ADIC, which held 2.4 million shares back in September, increased its investment to almost 8 million shares at the end of September. At the time, the shares were worth about $518 million.
Mubadala, the mother company, Abu Dhabi’s sovereign wealth fund, disclosed a $408.5 million stake in iShares Bitcoin Trust (IBIT) in a 13F filing released on May 15, 2025. The fund reported holding 8,726,972 shares as of March 31, 2025, an increase from 8,235,533 shares reported at the end of 2024.
This increased exposure showcases the perception change regarding Bitcoin and crypto in general after President Trump took office.
The iShares Bitcoin Trust ETF is the world’s largest crypto ETF with more than $70 billion in assets.
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