Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, disclosed that it held 12,702,323 shares of BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), as of December 31, 2025. The position was valued at about $630.6 million at year-end, according to a Form 13F filing with the U.S. Securities and Exchange Commission. Three months earlier, the fund had reported 8,726,972 shares, implying a quarterly increase of about 46%.
Stake expanded during a volatile stretch for Bitcoin
The filing shows the size of the position at year-end, but it does not specify when Mubadala added to the stake during the fourth quarter. The increase came during a period of sharp price swings in Bitcoin. The asset had traded above $100,000 earlier in the cycle, then moved down toward $68,000 in February 2026. Around the time of these disclosures, Bitcoin was trading near $68,362.
IBIT is issued by BlackRock and gives investors spot Bitcoin exposure through regulated U.S. markets. The filings refer to ETF holdings, not direct custody of Bitcoin. That distinction matters, because it shows institutional allocation through conventional securities channels rather than on-chain holdings.
Abu Dhabi-linked IBIT exposure passed $1.04 billion
The same filing cycle also included another Abu Dhabi-linked investor. Al Warda Investments reported holding 8,218,712 shares of IBIT worth about $408.1 million. Combined, the two entities held roughly 20.9 million shares valued at more than $1.04 billion.
The source material states that Abu Dhabi-linked investors had crossed $1 billion in combined exposure to U.S. spot Bitcoin ETFs by the end of 2025. The disclosures were centered on regulated ETF positions and did not include any direct Bitcoin wallet or custody details.
Bitcoin ETF exposure sat alongside major equity holdings
Mubadala’s IBIT position appeared within a much broader portfolio of listed equities. Its largest reported holding remained GlobalFoundries, valued at more than $15.7 billion. Other disclosed positions included ARM Holdings, Blue Owl Technology Finance, Adobe, Walt Disney, and Ford Motor Company.
Other institutions also updated Bitcoin ETF exposure through similar filings. Goldman Sachs reported more than $1.1 billion in IBIT exposure. Bank of America and Morgan Stanley revised policies to allow advisors to recommend Bitcoin ETFs. Separate filings also showed that Harvard reduced its IBIT position while adding exposure to BlackRock’s Ethereum ETF.