Abu Dhabi Tripled Bitcoin ETF Bet to $518M Before Market Crash

TLDR: ADIC boosted its IBIT ETF holdings from 2.4M to ~8M shares in Q3. That position was worth around $518M on Sept. 30. ADIC views Bitcoin as a long-term diversification tool alongside gold. Its timing came just before a major Bitcoin price drop and ETF outflows. The Abu Dhabi Investment Council (ADIC), part of Mubadala, [...]

The post Abu Dhabi Tripled Bitcoin ETF Bet to $518M Before Market Crash appeared first on Blockonomi.