Abu Dhabi sovereign funds hold $764 million in BlackRock Bitcoin ETF

SEC filings reveal that Abu Dhabi sovereign wealth funds, Mubadala Investment Company and the Abu Dhabi Investment Council, held their combined 22.94 million shares of BlackRock's iShares Bitcoin Trust steady through Q2 2026. Although a market downturn erased $118 million from the combined value of their positions—dropping Mubadala's stake to $490.1 million and the Abu Dhabi Investment Council's to $273.6 million—neither fund reduced its share count, signaling a long-term investment horizon.

Abu Dhabi sovereign Bitcoin holdings

• ▪Two Abu Dhabi sovereign wealth funds, Mubadala Investment Company and the Abu Dhabi Investment Council, held a combined 22.94 million shares of BlackRock's iShares Bitcoin Trust as of June 30, 2026.
• ▪The combined 22.94 million shares held by Mubadala Investment Company and Al Warda Investments, an entity linked to the Abu Dhabi Investment Council, represented approximately $764 million in value as of March 31, 2026.

Mubadala IBIT position retention

• ▪The Abu Dhabi Investment Council held exactly 8,218,712 shares of BlackRock's iShares Bitcoin Trust at both the March 31 and June 30, 2026 reporting snapshots.
• ▪The reported market value of the Abu Dhabi Investment Council's iShares Bitcoin Trust position declined from $315.8 million on March 31, 2026, to $273.6 million on June 30, 2026.
• ▪The reported market value of Mubadala Investment Company's iShares Bitcoin Trust position fell from $565.6 million on March 31, 2026, to $490.1 million on June 30, 2026, due to price revaluation.
• ▪Mubadala Investment Company held exactly 14,721,917 shares of BlackRock's iShares Bitcoin Trust at both the March 31 and June 30, 2026 reporting snapshots, showing no net share-count reduction.

Q2 institutional ETF positions

• ▪Morgan Stanley reduced its external spot Bitcoin ETF holdings by 775,301 units to 18,636,055 shares in Q2 2026, while reporting 2,570,627 shares of its newly branded Morgan Stanley Bitcoin Trust.
• ▪JPMorgan increased its spot Bitcoin ETF holdings from 8,462,883 shares in its amended Q1 2026 restatement to 10,623,591 shares in Q2 2026, driven primarily by BlackRock's iShares Bitcoin Trust.
• ▪UBS increased its ordinary spot Bitcoin ETF holdings by 13.20% to 414,191 shares in Q2 2026, while its iShares Bitcoin Trust call underlying equivalents rose from 80,000 to 1,950,000.

BlackRock IBIT exposure patterns

• ▪The broader Bitcoin ETF complex recorded approximately $4.89 billion of net outflows during Q2 2026, with about $2.06 billion of those outflows occurring in the final five trading sessions of June.
• ▪Harvard University left its Bitcoin ETF stake untouched in Q2 2026, after cutting its position by 43% in the prior quarter.

Sovereign wealth crypto strategy

• ▪Neither Mubadala Investment Company nor Al Warda Investments reported any direct cryptocurrency or token holdings in their SEC 13F disclosures, routing all exposure through BlackRock's regulated ETF.
• ▪Mubadala Investment Company first disclosed exposure to BlackRock's iShares Bitcoin Trust of at least $436 million in Q4 2024, adding to its position in every subsequent quarter through Q1 2026.

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