According to a recent application to the Securities and United States Stock Exchange Commission, the Sovereign Property Fund for ABU Zabi currently has a significant amount in ETF Blackrock Bitcoin (stock fund). This purchase took place in the last quarter of 2024. After the Blackrock company management company secured a commercial license to operate in Abu Dhabi in November last year.
The Sovereign Property Fund buys a significant participation in the largest Bitcoin ETF
On Friday, February 14, and Application 13F With SEC, it revealed that Mubadala Investments bought $ 436.9 million ETF Blackrock (from Ticker IBIT). Mubadala Investments is one of the sovereign funds of the wealth of Abu Dhabi, which makes investments on behalf of the Middle East government.
In 2024, the world’s largest Blackrock asset manager – with dozens of trillion of managed dollars – revealed his intentions to extend in the Middle East, focusing on the capital of Abu Dhabi and Riyadh. The last purchase of ETF Bitcoin ETF in the amount of $ 437 million emphasizes the Blackrock mission to work closely with sovereign property funds in the region.
Source: SEC
Interestingly, the last takeover is not for the first time the government of Abu Dhabi – through various investment entities – would go into cryptocurrencies. In 2023, the holding company Abu Dhabi Developmental and Marathon Digital revealed plans to start the mining of digital assets in the capital.
State of Wisconsin Investment Board reveals USD 321 million Bitcoin ETF Holdings
Interestingly, ETF Blackrock Bitcoin also enjoyed a immense part of national attention in the United States. State of Wisconsin Investment Board also on Friday Reported Increased exposure to the most significant cryptocurrency through the stock exchange fund.
According to the application to SEC, the Wisconsin pension fund currently has about $ 321 million in ETF Bitcoin. This is an estimated escalate in 100% compared to Holdings ETF worth $ 164 million (previously reported in May 2024).
From Last applicationWisconsin Emension Fund had about 2.4 million (worth about $ 100 million) of Blackrock Ishares Bitcoin Trust and 1 million shares (worth $ 64 million) Bitcoin Trust (GBTC). However, the latest application shows that the pension fund has allocated the entire BTC exposure to the Blackrock Rotation Fund and has no GBTC shares anymore.
It is worth noting that the price of Bitcoins increased by almost 70% since May 2024. In this letter, the cryptocurrency is about USD 97,250, which reflects by only 1% escalate in the last 24 hours. According to Coingeck, the Bitcoins price increased by about 90% last year.
The price of Bitcoin on the daily timeframe | Source: BTCUSDT chart on TradingView
A distinguished picture from Getty Images, Chart from TradingView
