Regulatory filings released Nov. 19 show the Abu Dhabi Investment Council (ADIC) sharply expanding its exposure to bitcoin ( BTC) by tripling its stake in Blackrock’s Ishares Bitcoin Trust (IBIT) during the third quarter of 2025.
ADIC, an independently operated arm within Abu Dhabi’s broader sovereign wealth structure, raised its IBIT position from roughly 2.4 million shares at the end of Q2 to nearly 8 million shares (7,963,393 to be exact) at the end of Q3. The shares were valued at about $518 million based on the ETF’s Sept. 30 closing price.
The increase represents a gain of roughly 230% to 233%, depending on the exact count noted across filings. The expansion came during a quarter in which bitcoin advanced significantly, leading into its early October peak above $126,000. Despite that specific rally, the subsequent October–November correction pulled prices down roughly 20% to 25%.
This has contributed to heavy net outflows across U.S. spot bitcoin ETFs — including a record single-day $523 million redemption from IBIT in November. Still, ADIC’s move appeared strategic rather than speculative, aligning with Abu Dhabi’s long-term diversification plans.
Mubadala Investment Company, Abu Dhabi’s flagship sovereign wealth fund, maintained its existing 8.7 million-share IBIT position during the same quarter. Combined, the two entities held roughly 16.7 million to 16.96 million shares, representing approximately $1.085 billion in exposure at Q3 prices and placing the UAE among the largest sovereign holders of bitcoin through regulated U.S. ETFs.
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The ETF allocation complements Abu Dhabi’s growing direct bitcoin exposure, including mining operations tied to Citadel Mining and the Marathon Digital–Zero Two joint venture. Combined on-chain estimates suggest these efforts have added thousands of mined bitcoin to the emirate’s broader digital asset footprint.
A representative for ADIC told Bloomberg the fund views bitcoin as a digital store of value similar to gold and considers the allocation a small but meaningful component of a long-horizon transition away from oil-based revenue streams.
The disclosure reaffirms Abu Dhabi’s role as one of the most active governmental participants in the digital asset sector, even as public markets move through cyclical volatility.
- How much did ADIC increase its IBIT holdings in Q3 2025?
ADIC expanded its position by more than 230%, moving from about 2.4 million to nearly 8 million shares. - How much combined IBIT exposure do ADIC and Mubadala hold?
Together they hold roughly 16.7 million to 16.96 million shares. - What was the value of ADIC’s Q3 IBIT position at quarter-end?
The stake was worth about $518 million based on the Sept. 30 closing price. - Why is Abu Dhabi increasing Bitcoin exposure through ETFs and mining?
Officials see Bitcoin as a long-term store of value and part of a broader diversification strategy linked to the UAE’s digital economy initiatives.
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