The Abu Dhabi Investment Council nearly tripled its holdings in BlackRock’s spot Bitcoin ETF during the third quarter, signaling rising institutional interest in the UAE.
ADIC increased its position from 2.4 million to almost 8 million shares, valued at roughly $520 million at quarter-end.
The investment came just before Bitcoin surged to a record $125,100 in early October before retreating below $90,000 this week. Despite recent volatility and IBIT’s price decline, analysts view ADIC’s move as a strong endorsement of Bitcoin’s long-term role as digital gold.
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