A prominent sovereign wealth fund based in Abu Dhabi has reportedly increased its holdings in BlackRock’s spot Bitcoin exchange-traded fund (ETF), known as IBIT, during the first quarter of 2025. This move by Mubadala Investment Company signals growing interest in digital asset exposure among large state-backed financial entities.
According to a recent filing with the **U.S. Securities and Exchange Commission (SEC)**, Mubadala Investment Company added approximately **$28.8 million** worth of shares to its IBIT portfolio in the period ending March 31, 2025. As a holding company fully owned by the government of Abu Dhabi, Mubadala is classified among the ranks of global sovereign wealth funds.
Mubadala’s Growing IBIT Position
The filing indicates that as of the end of the first quarter, Mubadala held a total of **8.72 million shares** in the iShares Bitcoin Trust. This represents an increase of 491,439 shares compared to its position at the close of the fourth quarter of 2024. The value of this added stake amounted to roughly $28.8 million based on market prices during the quarter.
Portfolio Value Fluctuation
Despite the acquisition of additional shares, the overall reported market value of Mubadala’s IBIT holdings saw a decrease during the first quarter of 2025. The portfolio’s value declined from approximately **$436.9 million** on December 31, 2024, to around **$408.5 million** by March 31, 2025. This drop in value is attributed to the performance of IBIT’s share price over that specific three-month period, which experienced a dip before rebounding later.
Market data shows that while IBIT shares posted overall gains since the start of 2025, the price trajectory included a notable downturn during the first quarter before beginning an upward trend closer to the end of that period and continuing into April.
The investment by a major sovereign fund like Mubadala aligns with predictions made by some financial analysts. Experts at Standard Chartered, for instance, had previously forecast an increase in demand for Bitcoin-related investment products from state-affiliated investment vehicles.
Michael combines data-driven research with real-time market insights to deliver concise crypto and bitcoin analysis. He’s passionate about uncovering on-chain trends and helping readers make informed decisions.