The Abu Dhabi sovereign wealth fund expanded its position in BlackRock’s Bitcoin ETF (exchange-traded fund), adding to signs of institutional demand for Bitcoin-linked products.
Mubadala, the Abu Dhabi sovereign wealth fund, bought more of BlackRock’s Bitcoin ETF (exchange-traded fund) and now holds more than $565 million of the fund. The disclosure points to continued institutional participation in Bitcoin investment products, which allow large investors to gain exposure to the cryptocurrency through regulated market vehicles rather than direct custody.