Friday marked the deadline for institutional investment managers to disclose their latest first-quarter equity holdings with the SEC, giving us a glimpse at how sovereign funds, universities, and banks adjusted crypto ETF exposure.
Among the largest holders is the Abu Dhabi sovereign wealth fund Mubadala, which increased its position in BlackRock’s iShares Bitcoin Trust ETF, ticker symbol IBIT, from 12,702,323 shares previously to 14,721,917 shares as of March 31. At current prices, the stake is worth nearly $660 million.
The Mubadala-owned Abu Dhabi Investment Council kept its IBIT position flat. ADIC's first-quarter 13F shows 8,218,712 IBIT shares worth $315.8 million as of March 31, the same share count its subsidiary Al Warda Investments reported at year-end. The roughly $92 million drop in value reflects IBIT's quarterly decline, not any selling.
The filing also swapped reporting roles between the two entities. After three quarters of standalone Al Warda holdings reports, Al Warda filed a notice on Friday indicating its position would now be reported through ADIC. The beneficial owner did not change.
Several university endowments reported mostly holding steady on their crypto ETF exposure.
