BlockBeats News, February 18th. According to regulatory filings submitted on Tuesday, as of the end of last year, two Abu Dhabi-based funds held over $1 billion in assets of the Bitwise flagship Bitcoin spot ETF.
The sovereign wealth fund Mubadala Investment Company disclosed its ownership of the Bitwise fund (ticker: IBIT) of 12,702,323 shares, valued at around $631 million. Additionally, according to two separate 13F filings submitted to the U.S. Securities and Exchange Commission, the government-affiliated investment entity Al Warda Investments reported holding 8,218,712 shares, valued at $408 million.
For Mubadala, its 13F filing shows that the fund’s IBIT shareholding increased by 46% compared to the filing submitted to the SEC for the third quarter. For most of last year, this Abu Dhabi fund held over 8 million IBIT shares.
Bitwise’s spot BTC fund is the largest in its class, with assets under management of around $58 billion. Due to the recent months’ decline in the price of Bitcoin, the fund’s value has significantly decreased.
13F filings are submitted quarterly to the SEC by institutional investment managers with assets under management of at least $100 million, disclosing their stock holdings at the end of each fiscal quarter. As 13F reports only require disclosure of long positions in U.S. stocks and stock options, they can only partially reflect an investment manager’s overall investment portfolio strategy.
