Key Takeaways
- Mubadala now holds 8.7M IBIT shares, worth $512 million.
- The fund added 491,439 shares during Q1 despite a drop in market value.
- BlackRock's IBIT has attracted over $45.5B in net inflows since January 2024.
Abu Dhabi sovereign wealth fund Mubadala Investment Company increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by 491,439 shares during Q1 2025, according to a 13F filing with the U.S. SEC.
The new shares, worth $28.8 million at current prices, bring its total holdings to 8,726,972 IBIT shares.
Valuation changes
As of March 31, the value of Mubadala’s position had declined to $408.5 million from $436.9 million in Q4, reflecting a drop in IBIT’s market price over the quarter.
However, at current prices, the expanded stake is valued at approximately $512 million.
BlackRock’s IBIT performance
BlackRock’s IBIT closed Thursday at $58.67 and has become the dominant U.S. spot Bitcoin ETF, with more than $45.5 billion in net inflows since launching in January 2024 and $65.4 billion in assets under management.
Other institutional investors
Other major institutional investors also increased their IBIT holdings in Q1.
Hong Kong’s Avenir now holds 14.7 million shares worth $691 million.
Citadel Advisors raised its IBIT stake to 3.1 million shares and expanded positions across other spot Bitcoin ETFs, though it manages these assets on behalf of clients.
Exits and reductions
Meanwhile, the State of Wisconsin Investment Board exited its $321 million IBIT position in Q1.
Millennium Management also reduced its IBIT holdings significantly, from 29.8 million shares to 17.5 million.
Largest IBIT holder
Goldman Sachs remains the largest IBIT holder, with 30.8 million shares worth about $1.4 billion.
