Mubadala Makes $630.6M Power Move Into BlackRock’s Spot Bitcoin ETF
Institutional giants are placing their bets—and their billions—on Bitcoin's future.
A Sovereign Leap
Abu Dhabi's $300 billion sovereign wealth fund, Mubadala, has just disclosed a massive $630.6 million position in BlackRock's iShares Bitcoin Trust. This isn't a speculative trade by a crypto hedge fund; it's a calculated allocation from one of the world's most sophisticated state-backed investors. The move signals a tectonic shift in how traditional finance views digital scarcity.
Why This Stings for Wall Street Traditionalists
For years, the old guard dismissed Bitcoin as a fringe asset, too volatile and unproven for serious portfolios. Now, a premier sovereign fund is using Wall Street's own product—a spot ETF from the world's largest asset manager—to gain exposure. It's a masterclass in using the establishment's tools to bypass the establishment's skepticism. Talk about eating your own cooking.
The New Institutional Playbook
This isn't about chasing quick gains. Funds like Mubadala operate on decades-long time horizons. Their entry suggests a foundational belief that Bitcoin has matured into a legitimate macro asset—a digital gold for sovereign balance sheets. It provides a non-correlated hedge, a bet on monetary digitization, and pure exposure to a network growing more valuable by the day.
What's Next for Crypto's Credibility
Mubadala's vote of confidence will echo through boardrooms from Riyadh to Zurich. Other sovereign funds, pensions, and endowments watching from the sidelines now have a precedent. The 'who's next?' question becomes more pressing than ever. One cynical take? Traditional finance spent a decade building moats, only to find crypto building bridges right over them—and now they're collecting the tolls in ETF fees.
The floodgates aren't just open; the first tidal wave of institutional capital has officially arrived.
How much Bitcoin exposure does Abu Dhabi have?
Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, now owns over $630 million worth of BlackRock’s spot bitcoin ETF (IBIT), according to a new 13F filing submitted to the U.S. Securities and Exchange Commission (SEC) on February 17, 2026.
The filing shows that as of December 31, 2025, Mubadala held exactly 12,702,323 shares of the iShares Bitcoin Trust and 8,726,972 shares as of September 30, 2025. The fund grew its Bitcoin position by 46% in just three months.
Major global financial players now regard Bitcoin as a standard part of a large investment portfolio despite its volatility at the start of 2026. Bitcoin prices slid from an all-time high above $100,000 down to the $68,000 range this February.
Sovereign wealth funds (SWFs) have remained cautious about digital assets for years. However, the launch and success of spot ETFs like BlackRock’s IBIT have encouraged state-backed funds like Mubadala to invest.
The same filing that revealed the Bitcoin stake also showed huge holdings in some of the world’s most important technology companies. For example, GlobalFoundries (GFS), which remains Mubadala’s largest holding, is valued at over $15.7 billion with 450 million shares. ARM Holdings (ARM) holds 1.37 million shares valued at approximately $150.5 million, while Blue Owl Technology Finance (OTF) holds a massive position of 29.1 million shares worth over $423 million.
Institutional crypto adoption
Goldman Sachs recently revealed in a separate filing that it holds over $1.1 billion in the same BlackRock Bitcoin ETF. Other major banks, including Bank of America and Morgan Stanley, have recently updated their policies to allow their thousands of financial advisors to recommend Bitcoin ETFs to wealthy clients.
Abu Dhabi has worked hard to create a clear legal framework for digital assets, and by having its own sovereign fund invest so heavily, the government is “leading by example” to encourage other regional funds and private family offices to consider similar allocations.
However, Bitcoin is currently trading around $68,362, and some analysts, including those from Standard Chartered, have recently lowered their price targets, suggesting Bitcoin could decline to the $50,000 level if current market pressures continue.
Despite the price drop, the capital held in ETFs has remained relatively stable because its investors are mostly institutional buyers, like Mubadala, who do not panic-sell during monthly price swings.
The 13F filing also highlights Mubadala’s diverse interests beyond just tech and crypto. The fund holds positions in healthcare companies like AbbVie ($3.8M) and CVS Health ($11.8M), as well as gold mining companies like Agnico Eagle Mines ($7.4M) and Barrick Gold ($9.8M).
Other notable holdings in Mubadala’s portfolio include Adobe Inc and Walt Disney, which hold $4 million each. Ford Motor Company is slightly ahead with $4.3 million.
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