Sovereign wealth funds are getting in on Bitcoin in a big way.

‍What’s happening:‍

  • Abu Dhabi’s Mubadala Investment Company has disclosed ownership in BlackRock’s spot Bitcoin ETF worth approximately $436M USD through new filings with the United States Securities and Exchange Commission

By the numbers:‍

  • The Mubadala Investment Company currently owns 8.2M shares of Blackrock’s iShares Bitcoin Trust ETF (NASDAQ: IBIT)
  • The Mubadala Investment Company has assets of roughly $20.4B USD

Why it matters:‍

  • This is one of the first times in history that a sovereign wealth fund has ever had direct exposure to Bitcoin through the traditional public markets

Going deeper:‍

  • The Mubadala Investment Company also has significant stakes in various other companies listed on major American stock exchanges, including GlobalFoundries (NASDAQ: GFS), Arm Holdings (NASDAQ: ARM) and Recursion Pharmaceuticals (NASDAQ: RXRX)

The intrigue:‍

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