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Abu Dhabi Discloses $437M Stake in BlackRock Spot Bitcoin ETF
The ownership interest was held via Mubadala Investments, one of the country's sovereign wealth funds
What to know:
The Middle Eastern city of Abu Dhabi on Friday disclosed a $436.9 million stake in BlackRock's iShares Bitcoin ETF (IBIT) as of Dec. 31, 2024.
The stake was held via Mubadala Investments, one of the country's sovereign wealth funds, per a 13F filing with the U.S. Securities and Exchange Commission.
The price of bitcoin (BTC) has rallied about 0.5% on the news to $97,400.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
