Abu Dhabi keeps $764M IBIT stake after $118M Q2 loss
Mubadala and the Abu Dhabi Investment Council held 22.94 million BlackRock IBIT shares worth about $764 million on June 30 after a roughly $118 million Q2 decline with no net share cuts.
Mubadala Investment Company and the Abu Dhabi Investment Council reported a combined 22.94 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) valued at about $764 million on June 30, according to U.S. Securities and Exchange Commission filings. The positions showed a roughly $118 million decline in reported value from the end of March but no net reduction in share count by quarter-end.
Mubadala disclosed ownership of 14,721,917 IBIT shares, valued at about $490.1 million. ADIC reported 8,218,712 shares, valued at about $273.6 million. At March 31 those same holdings were worth roughly $881 million, producing an approximate $118 million paper loss by June 30.
Form 13F filings provide a snapshot of holdings as of the quarter end and do not record intra-quarter trades. The quarter-end filings show neither fund had a smaller net IBIT position at June 30 than at March 31, but they do not preclude buying or selling during the quarter.
Mubadala’s IBIT stake is a small portion of its reported U.S. portfolio of about $34.77 billion. GlobalFoundries accounted for roughly 95% of that U.S. portfolio; IBIT represented about 1.4% of the disclosed U.S. holdings. Mubadala increased its IBIT position to 14,721,917 shares in the first quarter from 12,702,323, a rise of nearly 16%, after an earlier increase of about 46% in late 2025.
ADIC’s IBIT exposure is more concentrated. Its 8.22 million IBIT shares were worth about $273.6 million on June 30 and represented more than one-third of its roughly $715 million reported U.S. securities portfolio. IBIT was the largest disclosed U.S.-listed holding for ADIC. The council reported the same 8,218,712 shares at the end of March and at the end of June.
Abu Dhabi has expanded regulated digital-asset infrastructure, including exchanges, custodians, tokenization firms and mining operations. A U.S.-listed spot bitcoin ETF such as IBIT provides price exposure to bitcoin without the operational requirements of holding private keys or directly managing custody, and it is reported like other U.S.-listed securities.
The next quarter of Form 13F filings will show whether Mubadala and ADIC maintained, increased or trimmed their combined 22.94 million IBIT shares after the second-quarter decline.
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