In the first quarter of 2025, the Abu Dhabi sovereign wealth fund Mubadala increased its exposure to Bitcoin (BTC) by purchasing 491,439 shares of BlackRock’s iShares Bitcoin Trust (IBIT). As of March 31, Mubadala held 8,726,972 shares of IBIT, a 6% increase from the previous quarter. These shares were worth approximately $408.5 million at the end of March and over $512 million at current prices. Based on its public disclosures, the fund’s IBIT position accounts for roughly 0.14% of its $302 billion in total assets under management.
In contrast, the State of Wisconsin Investment Board (SWIB), which manages assets for the Wisconsin retirement system and other state – managed funds, reported no Bitcoin exchange – traded fund (ETF) holdings as of March 31, having effectively liquidated its exposure in the first quarter. SWIB was one of the first state investment funds to provide Bitcoin exposure to US retirees when it bought $164 million worth of Bitcoin ETFs in Q1 2024. However, the complete exit reflected in its latest filing suggests a reassessment of short – term exposure to crypto through ETF structures.
The contrasting strategies between Mubadala and SWIB reflect a divergence in state – backed positioning toward Bitcoin amid a volatile pricing environment in early 2025.
Related topic:
