The Abu Dhabi Investment Council (ADIC) held over $500 million worth of BlackRock IBIT holdings in the third quarter.

Odaily Planet Daily reports that the Abu Dhabi Investment Committee (ADIC) significantly increased its holdings of Bitcoin ETFs in the third quarter, raising its stake in BlackRock's IBIT to nearly 8 million units, a three-fold increase from the previous quarter, valued at approximately $518 million at the end of the quarter. ADIC stated it is building a "small but long-term allocation" and views Bitcoin as a store of value similar to gold, holding it consistently in its long-term portfolio. Meanwhile, Abu Dhabi's sovereign wealth fund, Mubadala, maintained its holdings of 8.7 million IBIT units. (Bloomberg)