Abu Dhabi’s BlackRock Bitcoin ETF Stake Falls in Value

Mubadala and Abu Dhabi Investment Council ended the second quarter with the same net IBIT share counts they reported in March, even as the combined value fell by $117.7 million. Changes elsewhere in their portfolios made that unchanged Bitcoin ETF position more prominent at ADIC and less prominent at Mubadala.

Key Takeaways

• The two SEC tables total $763.7 million, slightly above the widely reported $763.6 million.
• IBIT’s portfolio weight rose at ADIC but nearly halved at Mubadala without either quarter-end share count changing.
• ADIC is wholly owned by Mubadala, so the positions come from separate entities within one sovereign investment group.

The Official Total Is $763.7 Million

Mubadala Investment Company’s Q2 information table lists 14,721,917 shares of BlackRock’s iShares Bitcoin Trust ETF, or IBIT, valued at $490,092,617 on June 30.

A separate filing by Abu Dhabi Investment Council reports 8,218,712 IBIT shares worth $273,600,922. Together, the two positions total 22,940,629 shares and $763,693,539. That rounds to $763.7 million, not $763.6 million.

The share counts match the entities’ March 31 disclosures exactly. Mubadala’s Q1 filing valued the same 14,721,917 shares at $565,616,051, while ADIC’s earlier filing valued its unchanged 8,218,712 shares at $315,762,915.