Sovereign wealth funds are getting in on Bitcoin in a big way.

‍What’s happening:‍

• Abu Dhabi’s Mubadala Investment Company has disclosed ownership in BlackRock’s spot Bitcoin ETF worth approximately $436M USD through new filings with the United States Securities and Exchange Commission
  

By the numbers:‍

• The Mubadala Investment Company currently owns 8.2M shares of Blackrock’s iShares Bitcoin Trust ETF (NASDAQ: IBIT)
  
• The Mubadala Investment Company has assets of roughly $20.4B USD
  

Why it matters:‍

• This is one of the first times in history that a sovereign wealth fund has ever had direct exposure to Bitcoin through the traditional public markets
  

Going deeper:‍

• The Mubadala Investment Company also has significant stakes in various other companies listed on major American stock exchanges, including GlobalFoundries (NASDAQ: GFS), Arm Holdings (NASDAQ: ARM) and Recursion Pharmaceuticals (NASDAQ: RXRX)
  

The intrigue:‍

• The United States of America just recently announced new plans to launch the first ever sovereign wealth fund in American history, which has fuelled speculation around if they will use the fund to purchase Bitcoin or other digital assets

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