Abu Dhabi funds kept 22.9 million Blackrock IBIT shares through Q2 as a brutal sell-off erased $118 million in value.

Mubadala and Abu Dhabi Investment Council-linked Al Warda hold $764M in BlackRock's IBIT Bitcoin ETF after five quarters of steady accumulation.

The Abu Dhabi companies have bought significant positions in BlackRock's Bitcoin exchange-traded fund.