Two Abu Dhabi sovereign funds disclosed year-end positions in BlackRock’s spot Bitcoin ETF worth more than $1 billion combined. According to 13F filings submitted to the U.S. Securities and Exchange Commission, Mubadala Investment Company held 12,702,323 shares of BlackRock IBIT, valued at roughly $631 million at year-end prices, while Al Warda Investments reported 8,218,712 shares worth about $408 million. Together, the positions pushed Abu Dhabi’s exposure to the fund above the $1 billion mark.
Mubadala increased its stake during the pullback
Mubadala’s filing showed a 46% increase from the prior quarter. The source material said the fund had held more than 8 million shares for much of last year and added to the position during the market dip. Al Warda Investments, which is linked to the Abu Dhabi Investment Council, also disclosed a large stake, taking the combined allocation to a new level.
The move draws attention because it shows oil-backed sovereign capital increasing Bitcoin exposure through a regulated U.S. ETF structure rather than direct spot ownership. For institutions that want listed access and standard reporting channels, IBIT appears to be one of the preferred vehicles.
IBIT remains the largest U.S. spot Bitcoin ETF
BlackRock IBIT is the largest spot Bitcoin ETF in the United States, with about $58 billion in assets under management. The Abu Dhabi positions were built even as Bitcoin traded under pressure. The source noted that BTC has fallen roughly 20% this year, and at current prices the combined value of those holdings has slipped closer to $800 million.
That decline in mark-to-market value has not changed the core message from the filings. Large institutions are still using ETFs to build crypto exposure, and sovereign wealth participation adds weight to that trend. The filings also show that institutional demand has not disappeared during weaker price phases.
Bitcoin trades near key short-term support
At the time of writing, Bitcoin was trading near $67,697, down about 1% over 24 hours. The broader crypto market also moved lower. Data cited in the source showed a short-term correlation of 54% between BTC and gold, pointing to macro-driven positioning.
On the technical side, BTC was trading below its 30-day simple moving average at $67,932, which now acts as resistance. Immediate support sits around the 61.8% Fibonacci level at $67,603. If that level holds, price could retest the $67,932 area. A break below $67,603 would shift focus to the next support at $67,169.
Derivatives data did not indicate severe stress. Open interest was slightly higher and liquidations remained moderate, suggesting controlled selling rather than panic-driven unwinding.