Mubadala and Al Warda boosted BlackRock IBIT stakes in Q4

Two of Abu Dhabi’s major investment firms increased their exposure to BlackRock’s iShares Bitcoin Trust (IBIT) in the fourth quarter of 2025, buying into the ETF as bitcoin fell about 23% during the quarter. Mubadala Investment Company added nearly four million IBIT shares between October and December, bringing its total to 12.7 million.

The sovereign wealth fund first bought IBIT in late 2024 and has continued adding. Al Warda Investments held 8.2 million IBIT shares at the end of the quarter, up slightly from 7.96 million three months earlier. Together the two funds held more than $1 billion worth of bitcoin exposure via IBIT at the end of 2025.

With bitcoin down another 23% year-to-date in 2026, the combined value of those holdings had fallen to just over $800 million as of Tuesday, assuming they did not add more this year. The firms disclosed the positions in 13F filings with the U.S. Securities and Exchange Commission, underscoring ongoing institutional interest in spot bitcoin ETFs.

United Arab Emirates, Abu Dhabi

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