According to a recent deposit with the United States Securities and Exchange Commission, the Abu Dhabi sovereign heritage fund is currently having a significant amount in the BlackRock FNB Bitcoin (Stock Exchange Fund). This purchase occurred in the last quarter of 2024 after the BlackRock asset management company obtained the commercial license to operate in Abu Dhabi last November.
The Sovereign Heritage Fund bought significant participation in the largest ETF Bitcoin
Friday, February 14, a 13F file with the SEC revealed that Mubadala Investments had bought $ 436.9 million from Bitcoin ETF shares in BlackRock (with the IBIT Ticker). Mubadala Investments is one of Abu Dhabi’s sovereign funds, which makes investments on behalf of the Middle East government.
In 2024, the largest asset manager in the BlackRock world – with tens of billions of dollars under management – revealed his intention to develop in the Middle East, focusing on the capital Abu Dhabi and Riyadh. The recent purchase of $ 437 million in Sound ETF Bitcoin accentuates BlackRock’s mission to work closely with sovereign funds in the region.
Source: SEC
Interestingly, this last acquisition has not been the first time that the government of Abu Dhabi – through its various investment entities – will take place in cryptocurrencies. In 2023, the Abu Dhabi and Digital Marathon development portfolio company revealed plans to launch digital asset extraction operations in the capital.
The Wisconsin State Investment Office reveals $ 321 million Bitcoin Etf Holdings
Interestingly, the BlackRock FNB Bitcoin has also experienced a good part of the inner attention in the United States. Friday, the Wisconsin State investment office also reported increased exposure to the first cryptocurrency through the negotiated stock market fund.
According to the file with the SEC, the Wisconsin retirement fund now holds around $ 321 million in ETF Bitcoin. This represents an increase estimated at 100% compared to the $ 164 million BTC ETF of $ 164 million (previously reported in May 2024).
Since the last file, the Wisconsin Pension Fund held around 2.4 million (worth around 100 million dollars) of Ishares Bitcoin Trust’s Ishares of BlackRock and 1 million shares (valued at 64 million dollars ) Bitcoin Trust de Graycale (GBTC). However, the last deposit shows that the retirement fund allocated its entire exposure to the BTC to the BlackRock Stock Exchange Fund and no longer holds GBTC shares.
It should be noted that the price of bitcoin has increased by almost 70% since May 2024. When writing these lines, the first cryptocurrency is evaluated at around $ 97,250, reflecting an increase of 1% of 1% In the past 24 hours. According to Coingecko data, the price of Bitcoin has increased by around 90% in the past year.
The price of Bitcoin on the daily timeframe | Source: BTCUSDT chart on TradingView
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