Two investment vehicles linked to Abu Dhabi have disclosed large additions to BlackRock’s iShares Bitcoin Trust (IBIT) in new US filings, showing that at least part of the region’s capital has used the end of 2025 to measure Bitcoin exposure instead of moving away.
Abu Dhabi Wealth Funds Add Bitcoin to Dip
Mubadala Investment Company reported it owns 12,702,323 shares of IBIT worth $630,670,337 as of December 31, 2025, according to its latest Form 13F information filed on Feb. 17. That is a sharp step up from the 8,726,972 of the amount of IBIT that was previously abandoned, its first share of IBIT. $567,253,180 at the time of that report, a 46% increase in share count quarter over quarter.
A separate filing from February 17 shows that Al Warda Investments reported 8,218,712 shares of IBIT with a value of $408,059,051 as of December 31. Combined, the two books put Abu Dhabi-linked exposure to IBIT at just under 21 million shares at the end of the year, more than $1 billion.
The setup is important because IBIT has become the cleanest “institutional pipeline” of BTC exposure in the US markets: the quarterly 13F tables do not show when the fund was bought, only what it held at the end of the quarter, but they show who is free to wear exposure in a regulated wrapper and who is still weighing.
The timing also coincides with how BlackRock CEO Larry Fink has been describing the royalty’s involvement in Bitcoin more broadly. Speaking at the New York Times’ DealBook conference in December, Fink characterized these purchases as follow-up rather than impulse-driven: “There are a number of private equity funds that are standing by. They’re adding incrementally at $120,000, at $100,000. I know they’ve bought more at $80,000.”
That quote does a lot of work in the context of the current market, because it suggests that strong demand is not just a subjective event, it is a process of distribution with stairs that can continue to emerge during depression, even if the public only sees it later through filling.
There are also subtle but important differences in what the files say about the process. This is not a direct BTC storage disclosure. They are ETF share disclosures, held alongside traditional equities and other liquid assets within a standard reporting framework. In fact, that choice compresses the performance conflict: storage, kill rails, and overhead management into a standard package, which can decide on large providers that move slowly but move in size.
At press time, Bitcoin traded at $68,246.
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