Banking & Finance Mubadala puts $436m into BlackRock’s bitcoin ETF By Neil Halligan February 17, 2025, 6:39 PM Alamy/Elnur Amikishiyev via Reuters Connect The price of bitcoin has risen in recent months and now stands at just over $96,000 8m shares acquired in Q4 Move follows 86% rise in bitcoin Increased confidence in crypto Mubadala has invested $436 million in BlackRock’s bitcoin exchange-traded fund. The Abu Dhabi sovereign wealth fund acquired 8.2 million shares in the iShares bitcoin ETF during the fourth quarter of 2024, according to Mubadala’s latest filing to the US Securities and Exchange Commission. iShares, managed by BlackRock, is one of the world’s largest providers of ETFs. Its bitcoin fund is tied to the price of the cryptocurrency, which has risen by more than 86 percent in the past 12 months to reach just over $96,000 per coin. The ‘race is on’ to set up bitcoin national reserves Bahraini bank launches Gulf’s first bitcoin investment fund Opinion: US ambitions are a fork in the road for GCC crypto Bitcoin’s price soared by more than 40 percent after Donald Trump’s re-election in November, apparently driven by his promises to protect the right to own bitcoin and promote innovation in the blockchain sector. Mubadala is one of several asset managers that have invested in US bitcoin ETFs for the first time – or increased their exposure – suggesting increasing confidence in cryptocurrency as an asset. Eric Trump, the US president’s third child, told a conference in Abu Dhabi in December that his father was planning to make the US the “crypto capital of the world”. Eric Trump also told delegates he was “confident” that bitcoin would hit $1 million.
