As of the end of last year, the Abu Dhabi fund held over $1 billion in BlackRock's Bitcoin spot ETF

According to regulatory filings submitted on Tuesday, as of the end of last year, two Abu Dhabi-based funds held over $1 billion in BlackRock's flagship spot Bitcoin ETF.

The sovereign wealth fund Mubadala Investment Company disclosed that it holds 12,702,323 shares of the BlackRock fund (ticker: IBIT), valued at approximately $631 million. Additionally, according to two separate 13F filings submitted to the U.S. Securities and Exchange Commission, the government-affiliated investment firm Al Warda Investments reported holding 8,218,712 shares, valued at $408 million. In the case of Mubadala, its 13F filing shows that the number of IBIT shares held by the fund increased by 46% compared to the filing submitted to the SEC in the third quarter. For most of last year, this Abu Dhabi fund held over 8 million shares of IBIT. BlackRock's spot BTC fund is the largest of its kind, managing approximately $58 billion in assets. Due to the decline in Bitcoin prices in recent months, the fund's value has significantly shrunk. 13F filings are submitted quarterly to the SEC by institutional investment managers with assets under management of at least $100 million, disclosing the stocks they hold at the end of each fiscal period. Since 13F reports only require the disclosure of long positions in U.S. stocks and stock options, they can only partially reflect the overall investment strategy of the investment managers.