Abu Dhabi Fund Bolsters Bitcoin Holdings with IBIT Acquisition

Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has made a significant move in the cryptocurrency market, significantly expanding its holdings of Bitcoin through an increase in shares within Blackrock’s iShares Bitcoin Trust. The investment, exceeding $408 million, marks a clear commitment to Bitcoin as a strategic asset class, while contrasting with Wisconsin’s divestment from cryptocurrencies amidst evolving market dynamics and regulatory changes. This move stands in stark contrast to Wisconsin’s complete withdrawal of its holdings from cryptocurrency exchange-traded funds (ETFs). ]