NEWSLETTER
According to a recent presentation before the United States Securities and Securities Commission, the Sovereign Fund for Abu Dhabi's wealth currently has a significant amount in the Blackrock ETF Spot (Bag Fund). This purchase came in the last quarter of 2024 after the Blackrock asset management firm secured the commercial license to operate in Abu Dhabi last November.
Sovereign Wealth Fund buys a significant participation in the biggest bitcoin ETF
On Friday, February 14, a 13F Presentation With the SEC, he revealed that Mubadala Investments bought $ 436.9 million of bitcoin ETF's shares of Blackrock (with the Ibit Ticker). Mubadala Investments is one of Abu Dhabi's sovereign wealth funds, which makes investments in the name of the Government of the City of the Middle East.
In 2024, the largest asset manager in the Blackrock world, with dozens of billion dollars under administration, revealed its intentions to expand in the Middle East, focusing on the capital city Abu Dhabi and Riad. The recent purchase of $ 437 million of its bitcoin ETF accentuates Blackrock's mission to work in close collaboration with sovereign wealth funds in the region.
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Source: SEC
Interestingly, this last acquisition is not the first time that the Abu Dhabi government, through its various investment entities, will be incorporated into cryptocurrencies. In 2023, the ABU Dhabi and Marathon Digital Development Company revealed plans to launch digital asset mining operations in the capital city.
The Wisconsin State Investment Board reveals $ 321 million in bitcoin ETF Holdings
Interestingly, Blackrock's bitcoin ETF has also enjoyed a good amount of domestic attention in the United States. On Friday, the Wisconsin State Investment Board also reported Greater exposure to the main cryptocurrency through the bottom quoted in the stock market.
According to the SEC presentation, the Wisconsin pension fund now has about $ 321 million in ETF Spot bitcoin. This represents an estimated increase of 100% of btc ETF holdings of $ 164 million of the Board (previously reported in May 2024).
From the Last presentationThe Wisconsin pension fund had approximately 2.4 million (for an approximate value of $ 100 million) shares of Blackrock Ishares bitcoin Trust and 1 million shares (valued at $ 64 million) of bitcoin Trust (GBTC) of Grayscale. However, the last presentation shows that the pension fund has assigned its entire btc exhibition to the Blackrock Exchange quoted background and no longer has any GBTC action.
It is worth noting that the price of bitcoin has grown by almost 70% since May 2024. At the time of writing this article, the main cryptocurrency is valued at around $ 97,250, which reflects a single 1% increase in The last 24 hours. According to Coingcko data, the price of bitcoin has increased by approximately 90% in the last year.
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The price of bitcoin on the daily timeframe | Source: BTCUSDT chart on x/2YgFmmjY/" target="_blank" rel="noopener nofollow">TradingView
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