The acquisition brings the fund’s total Bitcoin ETF holdings close to the $1 billion mark, with more than 8.7 million additional shares now under its belt.

The timing of the announcement coincides with U.S. President Donald Trump’s diplomatic visit to the UAE capital, where he attended a state dinner at the presidential palace—highlighting a growing convergence between traditional diplomacy and the rising influence of digital assets in global finance.

Long known for its forward-leaning approach to innovation, Abu Dhabi has made cryptocurrency a key pillar of its economic strategy. Earlier this year, the same sovereign fund reported a $436 million Bitcoin ETF position, underscoring a steady and strategic accumulation of digital asset exposure.

The emirate has also become a magnet for crypto firms. In April, stablecoin issuer Circle received approval to operate as a money services business in Abu Dhabi and launched a partnership with Hub71, the city’s flagship tech ecosystem. The initiative aims to accelerate blockchain innovation and anchor the city as a global FinTech hub. Hub71 CEO Ahmad Ali Alwan noted the collaboration reflects Abu Dhabi’s ambition to lead in the digital asset space.

Adding to the momentum, March saw a $2 billion investment from MGX—an Abu Dhabi-based firm—into Binance, reinforcing the region’s commitment to crypto market infrastructure. With Bitcoin at the core of its growing investment footprint, Abu Dhabi is positioning itself as a central player in the future of global finance.

The post Abu Dhabi Adds $408M to Bitcoin ETF Holdings, Nears $1B Total appeared first on Coindoo.

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Filed under: Bitcoin - @ May 16, 2025 6:00 am