In a striking display of commitment to cryptocurrency, Abu Dhabi’s Mubadala Investment Company has increased its stake in BlackRock’s iShares Bitcoin Trust by 16% during the first quarter of 2026, as indicated by new SEC filings. This brings the sovereign wealth fund’s holdings to 14.7 million shares, valued at approximately $566 million.
The latest figures illustrate a significant increase in share ownership, despite a slight decrease in dollar value from $630.6 million at the end of 2025. This decline is attributed to a drop in Bitcoin prices rather than any waning interest from the fund.
Mubadala’s Steady Rise in Bitcoin Investments
Mubadala first entered the Bitcoin ETF arena in Q4 2024 with an investment around $436 million. After a brief dip in value to $408.5 million in Q1 2025 due to market adjustments, the fund’s Bitcoin holdings surged to $630.6 million by the end of 2025, coinciding with Bitcoin reaching a remarkable $100,000.
Since then, Mubadala has consistently expanded its position each quarter, demonstrating a clear long-term strategy rather than reacting to short-term market fluctuations. This five-quarter streak of accumulation highlights the fund’s commitment to Bitcoin as a fundamental component of its investment portfolio.
Mubadala is not alone in its bullish stance; Al Warda Investments, linked to the Abu Dhabi Investment Council, reported holding 8.2 million shares of the BlackRock Bitcoin ETF worth around $408 million as of Q4 2025. Collectively, Abu Dhabi sovereign entities held over $1 billion in the ETF by the end of last year.
Additionally, the Abu Dhabi Investment Council made headlines by tripling its Bitcoin ETF stake in Q3 2025, marking one of the largest increases among sovereign buyers.
BlackRock’s iShares Bitcoin Trust continues to lead the market, boasting over 600,000 Bitcoin as of April 2026, which is approximately three times more than its closest competitor, Fidelity. Notably, Norway’s Norges Bank has also been identified as a holder, reinforcing the ETF’s position as a premier entry point for nation-level Bitcoin investments.
Contrasting Moves from Other Institutions
While Abu Dhabi’s institutions display confidence in cryptocurrency, not all educational endowments share this sentiment. Harvard University has opted to reduce its holdings in the BlackRock Bitcoin ETF by 43%, now possessing 3.04 million shares. Furthermore, Harvard has completely exited its $86.8 million position in BlackRock’s Ethereum ETF.
Conversely, Dartmouth College is taking a different route by disclosing one of the first known institutional endowment positions in a Solana ETF, purchasing $3.67 million of the Bitwise Solana Staking ETF. Meanwhile, Barclays has revealed a position of 4.46 million shares in the BlackRock Bitcoin ETF, while Hong Kong’s Laurore has reduced its stake by 22%.
The Q1 2026 13-F filings illustrate a growing divergence among institutional crypto holders. While sovereign wealth funds, particularly from the Gulf region, are steadily increasing their exposure, several university endowments are retreating from crypto investments.
Mubadala’s unwavering accumulation over five consecutive quarters stands out as a notable example of a long-term institutional commitment to Bitcoin, positioning it as a leader among government-backed funds globally.
