February 18th — Regulatory filings submitted Tuesday reveal two Abu Dhabi-based funds held more than $1 billion in assets of Bitwise’s flagship Bitcoin spot ETF as of the end of last year. Sovereign wealth fund Mubadala Investment Company disclosed holding 12,702,323 shares of the Bitwise fund (ticker: IBIT), valued at approximately $631 million. Separately, government-affiliated investment entity Al Warda Investments reported holding 8,218,712 IBIT shares (worth $408 million) in two 13F filings with the U.S. Securities and Exchange Commission (SEC). Mubadala’s 13F filing shows its IBIT stake rose 46% from its third-quarter SEC submission. The Abu Dhabi fund held over 8 million IBIT shares for most of 2024. Bitwise’s spot BTC fund is the largest of its kind, with roughly $58 billion in assets under management (AUM). The fund’s value has dropped sharply amid Bitcoin’s price decline in recent months. 13F filings are quarterly SEC submissions by institutional managers with at least $100 million in AUM, disclosing equity holdings as of each fiscal quarter’s end. Since 13F reports only mandate disclosure of long positions in U.S. equities and stock options, they only partially reflect an investment manager’s full portfolio strategy.
