Mubadala Investment Company boosted its holdings in BlackRock's iShares Bitcoin ETF by 16% during the first quarter of 2026, pushing the total value of its stake to $565.6 million. The Abu Dhabi-based fund now holds 14.7 million shares of the iShares Bitcoin Trust, according to its latest quarterly filing. It marks the fifth straight quarter Mubadala has increased its Bitcoin ETF exposure since first entering the market in late 2024.
A steady buyer
Mubadala has been adding to its Bitcoin ETF position every quarter since Q4 2024. The 16% jump in Q1 is in line with that pattern. The fund doesn't disclose its investment rationale in the filings, but the consistent accumulation suggests a deliberate allocation strategy rather than a one-off bet. Sovereign wealth funds typically move slowly, so the quarterly increases signal a sustained appetite.
The filing details
The data comes from Mubadala's 13F filing with the SEC, a mandatory disclosure of U.S. stock holdings for large institutional investors. The filing shows the fund's iShares Bitcoin Trust shares as of March 31, 2026. The $565.6 million position makes it one of the larger sovereign wealth fund holdings in a spot Bitcoin ETF, though exact comparisons with peers aren't available from this single filing.
What happens next
The next 13F filing, due in August for the second quarter, will show whether Mubadala kept buying through the spring. The fund doesn't comment on its portfolio moves between filings, so the market will have to wait for that data point. For now, the trend is clear: Mubadala isn't just dipping its toe in — it's wading deeper.
