MarketPR
New 13F filings show Mubadala Investment Company and Abu Dhabi Investment Council absorbed a combined $118 million paper loss on their iShares Bitcoin Trust positions last quarter as $BTC declined, yet neither fund cut a single share.
Together they held 22.94 million IBIT shares worth $764 million at June 30, down from $881 million three months earlier. November's 13F window is when the market learns whether that conviction outlasted the summer.
The quarter-end print understates the actual swing. $BTC opened April near $68,079 and climbed to $82,139 by May 10.
IBIT touched $46.47 the following day, and at that level the Abu Dhabi stake was worth roughly $1.07 billion.
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