Abu Dhabi funds held over $1 billion of BlackRock's Bitcoin ETF at end of last year

At the end of last year, two Abu Dhabi-based funds owned more than $1 billion of BlackRock's leading spot Bitcoin ETF, according to filings from Tuesday.

The sovereign wealth fund Mubadala Investment Company said it owned 12,702,323 shares in BlackRock's fund, ticker symbol IBIT, worth roughly $631 million. Additionally, Al Warda Investments, an investment arm of the government, reported holding 8,218,712 shares valued at $408 million, according to two separate 13F filings with the U.S. Securities and Exchange Commission said.

In Mubadala's case, its 13F reported the fund had increased the number of shares it owned in IBIT by 46%, when compared to its third-quarter filing with the SEC. For much of last year, the Abu Dhabi fund held over 8 million shares in IBIT.

BlackRock's spot BTC fund is the largest of its kind, with assets under management of about $58 billion. The fund's value has declined markedly with the drop in bitcoin's price in recent months.

Expand Chart

13F filings are filed quarterly with the SEC by institutional investment managers which hold a minimum of $100 million in assets under management. The filings display the managers' equity holdings at the end of each fiscal period. Since 13F reports only require the disclosure of long positions in U.S. equities and options on equities, they only provide a partial view of an investment manager's overall portfolio strategy.