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United Arab Emirates (UAE) is still doubling down on Bitcoin via its sovereign wealth funds.
In the latest 13F filings with the U.S SEC, one of its funds, Mubadala, reported owning 14.7 million shares (worth $490M) of BlackRock’s iShares Bitcoin ETF (IBIT).
Source: SEC
A separate fund, Abu Dhabi Investment Council, also reported 8.2 million shares of IBIT (worth $273.6M). Collectively, the two funds own $763.6M worth of BlackRock’s Bitcoin ETF.
Notably, the BTC exposure is the second largest by value in the 13F filings for Mubadala. For Abu Dhabi Investment Council, BTC was the largest holding based on the latest 13F filings.
These holdings have not changed from the Q1 reporting. In fact, at the end of Q4 2025, UAE wealth funds held a cumulative value of over $1B in BTC exposure via BlackRock’s IBIT. This bid came right after BTC’s sharp drop from over $126K to below $100K.
In other words, the UAE is bullish on BTC despite the prolonged crypto winter.
BlackRock’s Bitcoin ETF sees new demand
That said, BlackRock’s Bitcoin ETF has seen improved demand in August, breaking the decline trend observed in 2026. According to Fintel, citing the latest 13F filings, IBIT’s institutional ownership increased to 374 million shares in August.
The institutional ownership contracted from its peak of 432 million IBIT shares in February to a low of 361M in July-A 16% decline. The uptick in August meant that there was increased demand from institutional players.
Source: Fintel
The renewed appetite from institutional investors may offer hope to BTC bulls.
In terms of flows, the broader U.S BTC ETFs have slowed the massive bleed-out seen in May.
Although the products have yet to fully and decisively turn green and positive, the slowing of intense outflows seen in Q2 could offer some stability for BTC’s price.
Source: Glassnode
Overall, the UAE’s BTC exposure was not a surprise, as the country has been bullish since 2025. However, what’s surprising is the UAE’s unwavering faith in the asset despite the sharp decline during the crypto winter.
Final Summary
UAE’s wealth funds reported combined holdings of $763.6M worth of BlackRock’s Bitcoin ETF
Institutional appetite for BlackRock’s improved in August after a 16% decline in 2026
