Abu Dhabi-based sovereign wealth fund Mubadala reported in its latest 13F filing with the US Securities and Exchange Commission (SEC) that it held 8,726,972 shares of the iShares Bitcoin Trust (IBIT) fund as of March 31. The total value of these shares was recorded as $408.5 million. This represents a significant increase from the 8,235,533 shares the fund reported on Dec. 31. Approximately 491,000 more IBIT shares were added to the portfolio in the first quarter. Related News: Previous Bitcoin Cycles Analyzed, New Peak Emerges for BTC Price - Pay Close Attention to This Level Mubadala’s interest in Bitcoin is not new. In 2023, the fund announced a strategic partnership with crypto mining firm Marathon Digital and Abu Dhabi-based Zero Two to establish a BTC mining facility in the region. In addition, in recent developments, Avenir Group has become one of the largest institutional investors in Asia with a $857 million BTC ETF position. China-based DDC announced plans to purchase 5,000 Bitcoins as a strategic reserve. UK-based Coinsilium raised £1.25 million as part of its Bitcoin treasury creation strategy. *This is not investment advice. Continue Reading: United Arab Emirates Sovereign Wealth Fund Increases Bitcoin Holdings – Here’s How Much
