Digital Assets Watch: Abu Dhabi’s $764M Bitcoin Bet Holds Firm Through Market Pain

Across major exchanges, two of Abu Dhabi’s biggest sovereign investment vehicles sat through a roughly $118 million hit to their Blackrock spot bitcoin trading platform-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.

Mubadala Investment Company and the Abu Dhabi Investment Council, or ADIC, disclosed the positions in filings with the U.S.

Securities and trading platform Commission (SEC) covering holdings as of June 30.

Together, the funds reported approximately 22.94 million shares of Blackrock’s Ishares Bitcoin Trust, better known by its ticker IBIT.

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.

Anyone who has followed institutional filings through a sell-off knows the share count tells the cleaner story here.

At the end of March, those same shares were worth roughly $881 million.

By June 30, about $118 million of that value had vanished.