Abu Dhabi’s Investment Council Doubles Down on Bitcoin Amidst Volatility

Abu Dhabi’s sovereign wealth fund, the Abu Dhabi Investment Council (ADIC), aggressively increased its investment in Bitcoin during Q3, significantly boosting its holdings of BlackRock’s spot Bitcoin ETF, IBIT. The move, detailed by Bloomberg, indicates a growing institutional confidence in digital assets within the United Arab Emirates. ADIC nearly tripled its IBIT stake from 2.4 million shares to almost 8 million, reflecting their belief that Bitcoin is a long-term store of value within diversified portfolios. This follows a turbulent quarter for Bitcoin, where volatility led to both price fluctuations and significant outflows from the ETF market.