Adding some detail to this. Two Abu Dhabi sovereign wealth funds are large holders of IBIT. One is Mubadala, which reported 8.7 million shares valued at $567 million as of September 30. The other fund is Al Warda (part of Abu Dhabi Investment Council), which reported 7.9 million shares valued at $518 million as of September 30.
This Bloomberg report from November explains it in detail (and includes an interesting on-the-record statement from ADIC about their BTC accumulation):
bloomberg.com/news/articles/20...…
Important video clip below. Rare to get this type of color on flows from someone in a position to know.
Eric Balchunas
@EricBalchunas
12-05
Pretty sure he's referencing Abu Dhabi here, they are the only SWF that is reported to own $IBIT (maybe there are smaller ones that don't report) but they are massive, 3rd biggest in world, bought half a billion a year ago, cost basis $49, IBIT curr at $52 so it's up a bit even w x.com/BitcoinArchive…
You are right. Good call.
Thanks Eric.
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