Abu Dhabi Investment Council triples Bitcoin ETF holdings as UAE bets big on digital assets

The Abu Dhabi Investment Council (ADIC) has increased its investments in Bitcoin ETFs according to a regulatory filing on September 30th 2025, amounting to 8 million shares worth about $518 million at the time.

ADIC invested in BlackRock Inc.’s iShares Bitcoin Trust ETF. Already, UAE Mubadala, the mother company of ADIC, holds 8.7 million shares, making the total holding for both at over 16 million shares. iShares Bitcoin Trust ETF is the world’s largest crypto ETF with more than $70 billion in assets.

According to Bloomberg, ADIC, an independently run unit of sovereign wealth fund Mubadala Investment Co, tripled the size of its position. Three months earlier, it had held 2.4 million shares. A representative of ADIC told Bloomberg that it was building a small allocation of Bitcoin as part of a long-term diversification strategy.

ADIC spokesperson noted, “We view Bitcoin as a store of value similar to gold, and as the world continues to move toward a more digital future, we see Bitcoin playing an increasingly important role alongside gold. Both assets contribute to diversifying our portfolio, and we expect to hold them as part of our near and long-term strategy.”

ADIC’s mother fund Mubadala had already invested in Bitcoin

Mubadala separately disclosed that it owned 8.7 million shares valued at $567 million in the same Bitcoin ETF earlier this year. The fund disclosed a $408.5 million stake in iShares Bitcoin Trust (IBIT) in a 13F filing released on May 15th, 2025. It also reported holding 8,726,972 shares on March 31, 2025, an increase from 8,235,533 shares reported at the end of 2024.

In August 2025, per Arkham, the UAE had become the fourth-largest government with Bitcoin holdings worth almost $740 million at the time. According to Arkham, Citadel Mining holds more than $700 million, Phoenix Group is also labelled on the Arkham platform and holds $3.2M of BTC.

The UAE, both in terms of sovereign wealth funds and crypto mining entities, holds a substantial amount of Bitcoin either as ETFs or directly. The UAE has also embraced crypto regulations, the Digital Dirham, and AED-backed stablecoins.

If you're reading this, you’re already ahead. Stay there with our newsletter.