Overview
- Regulatory filings show Abu Dhabi Investment Council raised its iShares Bitcoin Trust holding from 2.4 million to about 8 million shares, valued near $518 million as of Sept. 30.
- The buildup came shortly before Bitcoin fell roughly 20% from an early-October record, with the price briefly below $92,000.
- U.S. spot Bitcoin ETFs recorded about $3.1 billion in November outflows, including a $523 million single-day withdrawal from BlackRock’s IBIT.
- An ADIC spokesperson said Bitcoin is viewed as a long-term store of value comparable to gold and confirmed the holding is part of a diversification strategy.
- Mubadala reported 8.7 million IBIT shares worth about $567 million unchanged in Q3, as Abu Dhabi broadens crypto exposure that includes a reported $2 billion Binance stake via MGX.