Abu Dhabi revealed a $436.9 million investment in BlackRock’s iShares Bitcoin ETF (IBIT) as of December 31, 2024. The investment was made through Mubadala Investments, a prominent sovereign wealth fund in the UAE, according to a filing with the U.S. Securities and Exchange Commission.
Bitcoin’s price saw a modest uptick of 0.5%, reaching $97,400 following the disclosure.
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