Abu Dhabi-based Al Warda Investments continued to expand its exposure to bitcoin through BlackRock’s iShares Bitcoin Trust (IBIT) in the fourth quarter of 2025, extending a strategy shift that began earlier in the year.
In a filing released today, Al Warda reported owning 8,218,712 shares of IBIT as of Dec. 31, up from 7,963,393 shares at the end of the third quarter. The increase follows a sharp Q3 buildup, when the firm more than tripled its stake and raised its bitcoin ETF exposure to $517.6 million.
Al Warda operates under the Abu Dhabi Investment Council (ADIC), part of Mubadala Investment Co., one of the region’s leading sovereign wealth groups. The council has rarely taken public positions in listed digital assets, typically favoring private market investments such as buyouts, infrastructure, and real estate.
Its growing allocation through a U.S.-listed bitcoin ETF signals a shift in institutional positioning within the Gulf. A spokesperson for ADIC previously told Bloomberg that bitcoin is increasingly viewed as a long-term store of value alongside gold, citing its role in portfolio diversification as financial markets move toward a more digital future.
The Q4 increase comes after bitcoin surged toward an October peak near $126,000 before retreating below $90,000 in November. Bitcoin is currently trading near $67,000.
Other institutions exploring Bitcoin via IBIT
Last week, Goldman Sachs disclosed roughly $2.36 billion in total crypto exposure, including a $1.1 billion position in IBIT, signaling a shift from its earlier skepticism toward bitcoin.
SEC filings also showed smaller holdings in Fidelity’s Bitcoin fund, bitcoin-related companies, and options positions tied to IBIT, alongside exposure to Ethereum, XRP, and Solana.
In November of last year, Texas became the first U.S. state to purchase Bitcoin for its Strategic Reserve, acquiring $5 million IBIT shares worth approximately $87,000 per BTC. The purchase was made through BlackRock’s iShares Bitcoin Trust (IBIT) while the state finalizes plans for self-custody of the asset.
Texas had previously explored legislation to establish a strategic Bitcoin reserve without using taxpayer funds. In June, the governor signed the law creating the state’s Strategic Bitcoin Reserve.
Harvard also adjusted its crypto holdings in Q4 2025, cutting its Bitcoin position by 21% to 5.35 million IBIT shares ($265.8 million) while establishing a new $86.8 million stake in BlackRock’s iShares Ethereum Trust.
Combined crypto exposure totaled $352.6 million, with Bitcoin remaining the endowment’s largest publicly disclosed equity.
Source: https://bitcoinmagazine.com/news/ai-warda-raises-ibit-bitcoin-etf-stake
