Abu Dhabi’s Sovereign Wealth Fund has disclosed a $408 million investment in BlackRock’s spot Bitcoin ETF, according to a recent SEC filing. The filing has emerged as US President Donald Trump attends a state dinner at the UAE’s capital, at the presidential palace.
Abu Dhabi is one of the more crypto-friendly cities in the Middle East. Back in February, Abu Dhabi’s sovereign wealth fund reported $436 million in Bitcoin ETF holdings. The latest filing indicates that the city’s BTC ETF holdings now sit at nearly $1 billion, with the additional 8,726,972 shares acquired.
A host of nations have already sought to embrace the digital asset industry in a major way, with the US recently joining the party. Abu Dhabi has been in the crypto ring for some time now, but has ramped up its efforts as the cryptocurrency industry continues to thrive in 2025.
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Last month, USDC issuer Circle got the green light to operate as a money services provider in Abu Dhabi. Circle has also established a strategic partnership with Hub71. Hub71 operates as Abu Dhabi’s premier international technology sector. The collaborative initiative works to enhance digital asset technology innovation across all levels. Hub71 CEO Ahmad Ali Alwan expressed that their collaboration with Circle demonstrates their dedication to making Abu Dhabi an international base for FinTech and digital assets.
Additionally, back in March, Binance confirmed that Abu Dhabi’s MGX had purchased a $2 billion stake in the platform. The city’s crypto initiative continues to grow and thrive, with Bitcoin at the heart of its investment strategy.
