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Mubadala, the sovereign wealth fund of Abu Dhabi, revealed a $408.5 million investment in the iShares Bitcoin Trust (IBIT), as per a 13F disclosure made public today. The fund noted it holds 8,726,972 shares as of March 31, 2025, up from 8,235,533 shares recorded at the close of 2024.
This substantial action from Mubadala adds momentum to U.S. spot Bitcoin ETFs, which have been attracting significant inflows this May. Observing aggregated inflows of $674.9 million on May 2, $425.45 million on May 5, and $334.58 million on May 9, with more to come, including a $319.12 million inflow yesterday. IBIT, BlackRock’s Bitcoin ETF, continues to be a preferred option for institutional investors, accounting for $232.46 million of that total alone.
Mubadala’s heightened involvement aligns with high-level dialogues between U.S. crypto policy leaders and the UAE. Newly appointed President Trump’s AI and Crypto Czar David Sacks met with Emirati officials earlier this year on March 20 to delve into the future of digital currencies and artificial intelligence.
“I discussed with David Sacks, the Special Advisor on AI and Crypto, the transformative impacts of artificial intelligence across various sectors, the growing influence of digital currencies in reshaping financial systems, and the emerging investment prospects at their intersection,” stated on X Tahnoon Bin Zayed Al Nahyan. “As technological innovations accelerate, fostering collaboration and adopting forward-thinking strategies remain crucial aspects for driving sustainable growth and long-term impact.”
The UAE has experienced a notable rise in Bitcoin adoption over the past year, highlighted by hosting the Bitcoin MENA Conference in Abu Dhabi, which attracted prominent figures such as Eric Trump, who passionately spoke about Bitcoin. Trump emphasized that reluctance to embrace change is nothing new, sharing a tale about a friend who disregarded Bitcoin, only to later witness his own bank adopt it.
“People are incredibly slow to adapt to new technologies,” stated Eric Trump. “We will see banks forced to adapt. Governments will adjust. Those who embrace this digital revolution early will emerge victorious.”
Trump referred to Bitcoin as a “global asset” that shields against uncertainty and interruptions, emphasizing its decentralized nature as a superior option to the costly inefficiencies of traditional finance.
“Bitcoin serves as a store of value,” Eric Trump added. “It acts as a hedge against inflation, political unrest, instability, natural disasters, hurricanes, fires, floods, tornadoes. That’s what renders it so powerful.”
“I am certain that Bitcoin will reach $1 million,” he proclaimed.
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