Abu Dhabi sovereign wealth fund Mubadala expands Bitcoin exposure via IBIT while Wisconsin fund exits crypto ETF
By: cryptoslate|2025/05/16 06:00:15
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Abu Dhabi sovereign wealth fund Mubadala raised its exposure to Bitcoin (BTC) during the first quarter, purchasing 491,000 shares of BlackRock’s iShares Bitcoin Trust (IBIT), according to its latest Form 13-F filing.Mubadala held 8,726,972 shares of IBIT as of March 31, up 6% from the previous quarter and worth approximately $408.5 million at the end of March and over $512 million at current prices.Despite broader price volatility, the share count increase highlights the sovereign wealth fund’s commitment to Bitcoin. Based on its public disclosures, the fund’s IBIT position accounts for roughly 0.14% of its $302 billion in total assets under management.Notably, Abu Dhabi has other significant state-owned investment vehicles, such as the Abu Dhabi Investment Authority (ADIA), the Abu Dhabi Developmental Holding Company (ADQ), and the Emirates Investment Authority (EIA).Wisconsin exits Bitcoin ETF exposureThe State of Wisconsin Investment Board (SWIB), which manages assets for the Wisconsin Retirement System and other state-managed funds, reported no Bitcoin exchange-traded fund (ETF) holdings as of March 31, effectively liquidating its exposure in the first quarter. In its fourth quarter filing, SWIB had disclosed 6,060,351 shares of IBIT valued at $321.5 million. That represented a 110% increase from the 2,898,051 shares it held during the second quarter of 2024.SWIB’s position had previously replaced its holdings of Grayscale’s GBTC, which it held through the second quarter of 2024. However, the complete exit reflected in its latest filing suggests a reassessment of short-term exposure to crypto through ETF structures.The contrasting strategies between Mubadala and SWIB reflect a divergence in state-backed positioning toward Bitcoin amid a volatile pricing environment in early 2025. While Mubadala opted to expand its exposure through a higher share count despite a declining asset value, SWIB’s liquidation points to reduced risk tolerance or a pivot in portfolio strategy.Both filings provide updated data on institutional investors’ response to Bitcoin’s volatility through ETF-based access as traditional finance integrates with crypto.The post Abu Dhabi sovereign wealth fund Mubadala expands Bitcoin exposure via IBIT while Wisconsin fund exits crypto ETF appeared first on CryptoSlate.
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