The Abu Dhabi Investment Council nearly tripled its holdings in BlackRock’s iShares Bitcoin Trust during the third quarter, growing from about 2.4 million shares to nearly 8 million shares by September 30. The position was valued at approximately $518 million at the end of the quarter.
Massive buying ahead of price peak
According to market reports, this rise occurred just before the Bitcoin price hit a new high in early October, when it passed $125,000. As investor sentiment has become much more volatile, the fund has gained significantly more exposure to Bitcoin-related ETFs.
Sovereign funds increasing their ETF positions at this scale send a clear message about how some large public investors now view cryptocurrencies as an asset class worth owning.
That doesn’t mean betting is risk-free. ETF shares can be redeemed, market fluctuations can be sharp, and paper profits can quickly evaporate if prices reverse.
According to the report, ADIC treated ETFs as long-term stores of value, but short-term price action has already tested that view.
JUST IN: 🇦🇪 UAE state fund triples its stake in the BlackRock Bitcoin ETF.
— Watcher.Guru (@WatcherGuru) November 19, 2025
Funds take a hit due to record withdrawals
Cash ETFs faced massive redemptions in November. BlackRock’s IBIT recorded record daily outflows of approximately $523 million, marking the largest single-day withdrawal since the ETF launched in January 2024. The outflow was part of a series of buybacks that month and a sign of growing caution among some holders.
Image: Emerging Market Financial Training
These buybacks come as Bitcoin is falling from its October highs. This decline has left some large buyers holding positions that look less advantageous on paper.
Some analysts argue that these movements (large buying and selling) are part of a typical allocation cycle for institutional investors. Others warn that rapid inflows and outflows could widen price swings for everyone in the market.
Signals for other investors
The rise in ADIC reportedly shows that some in the global investment community are ready to use regulated U.S. ETFs to gain exposure to Bitcoin.
This preference for regulated vehicles can increase the pool of buyers in good times, while also creating new pressure points when sentiment shifts and large redemptions occur.
Bitcoin is trading at $91,667 in the last 24 hours. Chart: TradingView
A large public fund made a bold move into Bitcoin through a major US ETF, and did so just before the market cooled off. The deal highlights both the growing mainstream interest in cryptocurrencies and the risks that come with the rapid movement of large ETF positions.
In the meantime, the facts are simple. At the end of the quarter, IBIT stock holdings worth about $518 million surged to nearly 8 million shares, after which the ETF saw record one-day outflows of $523 million as the price fell from early October highs.
Featured image from Wanderlust Magazine, chart from TradingView
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