Mubadala's Bitcoin Move: Ibit Grows as Wisconsin Exits

Mubadala Increases Bitcoin Involvement Through Ibit As Wisconsin Fund Exits Crypto ETF

19 May 2025 at 19: 21

Reading time: 2 minutes

During the first quarter, Abu Dhabi sovereign wealth fund Mubadala increased its exposure to Bitcoin (BTC) by purchasing a whopping 491.000 shares of BlackRock’s iShares Bitcoin Trust (IBIT), as per their most recent Form 13-F filing. As of March 31, Mubadala held 8.726.972 shares of IBIT, up 6% from the previous quarter. The value of these shares was approximately $408,5 million at the end of March and has since risen to over $512 million.

Despite the market fluctuations, the share count increase reflects the wealth fund’s determination to invest in Bitcoin. Public filings show that the fund manager’s IBIT position represents about 0,14% of its total assets of $302 billion. It’s also interesting to note that Abu Dhabi has other significant state investment vehicles, such as the Abu Dhabi Investment Authority (ADIA), the Abu Dhabi Developmental Holding Company (ADQ), and the Emirates Investment Authority (EIA).

Wisconsin Says Goodbye to Bitcoin ETF

The State of Wisconsin Investment Board (SWIB), which manages assets for the Wisconsin Retirement System and other state funds, no longer holds a Bitcoin exchange-traded fund (ETF) as of March 31. This means the organization effectively liquidated its Bitcoin exposure in the first quarter. As of the fourth quarter, SWIB held 6.060.351 shares of IBIT worth $321,5 million, up 110% from 2.898.051 shares in the second quarter of 2024.

SWIB had previously swapped shares of Grayscale’s GBTC for IBIT, but the complete sale in the latest filing suggests a rethink of short-term exposure to crypto via ETF structures. Mubadala and SWIB’s differing strategies illustrate the contrasting approaches to sovereign support for Bitcoin, especially in a volatile price environment in early 2025. While Mubadala has opted to increase its exposure by purchasing more shares, SWIB’s liquidation points to either a reduced risk tolerance or a shift in its portfolio strategy.

This data offers interesting insights into the strategies of institutional investors and their reactions to Bitcoin's volatility, as traditional financial structures increasingly integrate with crypto. Many people may be wondering if crypto will become a new normal in the financial world.

Frequently Asked Questions

Why did Mubadala increase its stake in Bitcoin?
Mubadala shows its belief in Bitcoin's future, even in a turbulent market, by purchasing additional shares of the iShares Bitcoin Trust.

What are the implications of SWIB's exit from Bitcoin ETFs?
SWIB's liquidation may indicate a changed approach to risk and a refocus of their investment strategies, underscoring the diversity in institutional crypto investors.

How do Mubadala and SWIB's strategies compare?
The approaches are opposite: Mubadala offers a stable, long-term investment in Bitcoin, while SWIB opts for a safe withdrawal from the crypto space, highlighting the tension in the current market.

Share this article:

Disclaimer: The information on Block 9 is for general informational and educational purposes only. While we strive to provide up-to-date, correct and relevant content, we make no warranties as to the completeness, accuracy or reliability of the information provided. All content on this website, including articles, analyses, opinions and other publications, is for general information purposes only and does not constitute professional or legal advice in any way, including but not limited to financial, investment or tax advice.

Block 9 makes no guarantees or representations as to any possible results or returns that may arise from the use of information on this website. Nothing on this website should be interpreted as a recommendation to buy, sell or hold any particular asset, including but not limited to cryptocurrencies, tokens or other financial instruments.

The opinions and views expressed in contributions by editors, external authors or community members are strictly personal and do not necessarily represent the views or policies of Block 9 as a platform. Block 9 accepts no liability for any loss or damage – direct or indirect – resulting from the use of (or reliance on) the information published on this website.

Investing in cryptocurrencies and other digital assets involves significant risks. The value of such assets can fluctuate significantly, and there is a chance that you could lose (some of) your investment. We strongly recommend that you always do your own research (DYOR) and seek independent advice from a qualified financial advisor before making any financial decisions. By using this website, you agree to this disclaimer and accept that Block 9 is not responsible for your investment choices or the results thereof.