Mubadala, the sovereign wealth fund of Abu Dhabi, has made a significant investment by allocating $436 million into spot ETFs on Bitcoin.

This move places them as the seventh-largest holder of BlackRock's cryptocurrency investment product, IBITs, highlighting their strategic interest in digital assets and the potential growth of Bitcoin.

The investment underscores Abu Dhabi's broader focus on diversifying its portfolio and tapping into the rapidly expanding crypto market through regulated products like ETFs.