Abu Dhabi · Bitcoin · Bitcoin ETF · SEC · Bitcoin.com News
Abu Dhabi’s $764 million Bitcoin Bet Holds Firm Through Market Pain
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Two of Abu Dhabi’s biggest sovereign investment vehicles sat through a roughly $118 million hit to their Blackrock spot bitcoin exchange-traded fund (ETF) positions in the second quarter and did not cut a single net share, leaving nearly $764 million riding on IBIT when June ended.
Key facts
- Mubadala reported 14,721,917 IBIT shares valued at approximately $490.1 million, while ADIC reported 8,218,712 shares worth about $273.6 million
- Its 8.22 million IBIT shares were worth about $273.6 million on June 30 and represented more than one-third of its roughly $715 million reported U.S. securities portfolio
- It increased its IBIT stake by nearly 16% during the first quarter, lifting its position from 12,702,323 shares to 14,721,917
- By June 30, about $118 million of that value had vanished
Summary
Mubadala and ADIC held 22.94 million IBIT shares worth nearly $764 million on June 30. Mubadala and ADIC took a $118 million Q2 hit without reducing their net IBIT shares. Q3 filings will show whether Mubadala and ADIC hold, add or cut 22.94 million IBIT shares. Mubadala Investment Company and the Abu Dhabi Investment Council, or ADIC, disclosed the positions in filings with the U.S. Securities and Exchange Commission (SEC) covering holdings as of June 30.