The Mubadala sovereign fund ranks seventh among the holders of BlackRock’s Bitcoin ETF, while British and Canadian banks follow the same trend.
Abu Dhabi’s sovereign fund, Mubadala Investment Company, has emerged as the seventh-largest holder of shares in BlackRock’s Bitcoin ETF, according to a recent 13-F filing submitted to regulators.
The investment amounts to approximately $460 million, signaling the growing interest of traditional financial institutions in Bitcoin. According to Bill Barhydt, founder and CEO of Abra, this move could trigger a domino effect, pushing other sovereign funds to increase their Bitcoin allocations in the current quarter.
The trend is already spreading among Canadian and British financial institutions, which are increasing their Bitcoin exposure by investing over $280 million in spot ETFs.
The Bank of Montreal (BMO), one of Canada’s largest banks, has allocated $150 million to Bitcoin spot ETFs. According to a filing submitted to the U.S. Securities and Exchange Commission, BMO’s largest holding is in BlackRock’s IBIT, with $139 million. The remaining $11 million is distributed among the Ark 21Shares Bitcoin ETF (ARKB), Fidelity Wise Origin Bitcoin Fund (FBTC), and Grayscale Bitcoin Trust (GBTC).
Across the Atlantic, British bank Barclays has disclosed $131 million in holdings in BlackRock’s IBIT, making it the 15th-largest holder of the ETF.
