Abu Dhabi investment institution, one of the world's largest sovereign wealth funds, has recently invested heavily in Bitcoin, which has attracted strong market attention and led to a significant rebound in Bitcoin prices.
The latest 13F declaration documents show that Mubadala, the sovereign wealth fund belonging to the Abu Dhabi government, purchased about 8.235 million shares of IBIT (BlackRock Bitcoin Spot ETF) in the fourth quarter of last year, with a total value of up to US$436 million.
This move marks the official entry of national sovereign funds into the Bitcoin market. Unlike other countries that indirectly hold Bitcoin due to law enforcement actions, Abu Dhabi took the initiative to include Bitcoin in its investment portfolio, injecting a large amount of incremental funds into the market.
Especially in the context of the US government's assessment of establishing a national strategic reserve of digital assets and the plans of multiple state governments to invest in digital assets themselves, Abu Dhabi's move may accelerate the global trend of government agencies investing in Bitcoin.
Steven Lubka, head of Swan Bitcoin's private client and family office, commented on social media platform X: Abu Dhabi's investment is enough to open up a global Bitcoin reserve race, and other countries may follow suit.
As Abu Dhabi's multi-billion dollar sovereign funds enter the crypto market, the market expects other government agencies to follow up.
It is worth noting that Binance founder CZ previously forwarded a report about the UAE holding $40 billion in Bitcoin, which was widely questioned at the time. However, the disclosure of the 13F document confirms that the UAE does hold Bitcoin, but the scale is lower than previous rumors.
CZ forwarded the relevant news early this morning and pointed out: "This report only comes from a sovereign wealth fund (Mubadala) in Abu Dhabi, and there are many other sovereign wealth funds in Abu Dhabi."
In fact, Abu Dhabi's sovereign wealth fund system is huge. In addition to Mubadala, it also includes the Abu Dhabi Investment Agency (ADIA), ADQ, Abu Dhabi Development Fund, Tawazun and the UAE Investment Agency (EIA). Does this mean that other sovereign funds also hold Bitcoin? The market speculates about this.
In recent years, the UAE has actively created a regulatory environment conducive to the development of cryptocurrencies, attracting many crypto giants and start-ups to settle in. The huge investment in Bitcoin ETFs by Abu Dhabi’s sovereign fund further consolidates the UAE’s influence in the global crypto industry.
Affected by this news, the price of Bitcoin rose rapidly, from $96,700 to $98,826, an increase of 2.1% in one hour.
As of press time, the price of Bitcoin fell slightly to $97,640, with a 24-hour increase of 1.01%.
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