Mubadala Invests $408.5M in Bitcoin via BlackRock’s IBIT ETF

Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has significantly increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT). This move signifies continued investment from one of the world’s largest sovereign wealth funds in the growing cryptocurrency space. The fund now holds 8.7 million IBIT shares worth $408.5 million as of March 31, according to a SEC filing. Although the number of shares rose from 8.2 million at year-end 2024, the total value dipped due to fluctuating prices of IBIT, which closed on May 15th at $58.86.