In a significant move that underscores the growing institutional interest in digital assets, Abu Dhabi-based Al Warda Investments has increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) to 8,218,712 shares as of December 31, 2025. This marks a continued expansion of its bitcoin exposure, following a substantial Q3 buildup where the firm more than tripled its holdings.
Al Warda, a subsidiary of the Abu Dhabi Investment Council (ADIC) and part of Mubadala Investment Co., one of the Middle East’s leading sovereign wealth groups, has traditionally favored private market investments. However, its growing allocation through a U.S.-listed bitcoin ETF signals a strategic shift within the Gulf, where bitcoin is increasingly being viewed as a long-term store of value and a tool for portfolio diversification.
Q4 Bitcoin Surge and Institutional Adoption
The Q4 increase in Al Warda’s bitcoin ETF stake comes on the heels of a volatile period for the cryptocurrency. Bitcoin surged to an October peak near $126,000 before retreating below $90,000 in November, and it is currently trading around $67,000. This volatility has not deterred institutional investors, who are increasingly seeing bitcoin as a hedge against inflation and a diversifier in a digital-first financial landscape.
Other major institutions have also been exploring bitcoin through IBIT. Last week, Goldman Sachs disclosed a total crypto exposure of roughly $2.36 billion, including a $1.1 billion position in IBIT. This move marks a significant shift from Goldman’s earlier skepticism toward bitcoin, reflecting a broader acceptance of digital assets in the financial sector.
Regional and Global Trends
Al Warda’s increased exposure to bitcoin is part of a broader trend of institutional adoption across the globe. In the U.S., Texas became the first state to purchase bitcoin for its Strategic Reserve, acquiring $5 million worth of IBIT shares at approximately $87,000 per BTC. The state is also finalizing plans for self-custody of the asset, aligning with a growing trend of governments and institutions taking a more active role in digital asset management.
Harvard University, known for its large endowment, also adjusted its crypto holdings in Q4 2025. The university cut its Bitcoin position by 21% to 5.35 million IBIT shares, valued at $265.8 million, while establishing a new $86.8 million stake in BlackRock’s iShares Ethereum Trust. Despite the reduction, Bitcoin remains the largest publicly disclosed equity in Harvard’s endowment.
Future Outlook
The growing institutional interest in digital assets, particularly through ETFs, highlights a significant shift in how traditional finance is approaching the crypto space. As more institutions like Al Warda, Goldman Sachs, and Harvard continue to explore and invest in digital assets, the integration of these assets into mainstream financial portfolios is likely to accelerate. This trend is not only reshaping the investment landscape but also contributing to the broader acceptance and legitimacy of cryptocurrencies as a viable asset class.
As the digital asset market continues to mature, the focus on regulation and security will remain paramount. Institutions are likely to play a crucial role in setting the standards for safe and responsible investment in this emerging sector. The future of digital assets is bright, and the strategic moves by Al Warda and others suggest that the Gulf and beyond are well-positioned to capitalize on this transformative shift.
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