Abu Dhabi has unveiled a $ 436.9 million interest in BlackRock’s Ishares Bitcoin ETF (IBIT), according to a recent 13F application for the American Securities and Exchange Commission (SEC). The importance is held through Mubadala Investments, one of the state investment funds of the United Arab Emirates.
Bitcoin course responds positively
The announcement underlines the increasing institutional interest in Bitcoin from the Middle East, a region that becomes increasingly active in the crypto sector. The market responded positively to the news, with the Bitcoin rate rising by 0.5% to $ 97,400.
Abu Dhaba’s Megafonds
Mubadala, one of the largest sovereign funds in the world, manages hundreds of billions of dollars in assets. The investment in BlackRock’s Bitcoin ETF points out that institutional investors are getting more and more confidence in regulated crypto products as fully-fledged investment instruments.
With this step, Abu Dhabi joins a growing group of large financial players who are strategically focusing on Bitcoin via spot ETFs. This underlines the increasing acceptance of crypto within institutional and government -related circles.
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Source: https://newsbit.nl/breaking-abu-dhabi-investeert-437-miljoen-in-blackrocks-bitcoin-etf/
