The Sovereign Wealth Fund of Abu Dhabi, the capital of Dubai, announced in its 13F filing that it owns the iShares Bitcoin ETF.
The investment coincides with BlackRock receiving a commercial licence to operate in Abu Dhabi last November.
Mubadala Investment Company, which manages investments on behalf of the Abu Dhabi government, has taken an increasingly active role in digital assets. This latest move marks one of the most significant crypto-related investments ever made by the sovereign wealth fund.
This is not the first time Abu Dhabi has gotten involved in the crypto space, however. The city government invested in Bitcoin mining startups in 2023, and companies like Marathon Digital and Zero Two have announced plans to develop a large-scale Bitcoin mining complex in Abu Dhabi.
*This is not investment advice.
