Abu Dhabi Funds Exceed $1.04B in BlackRock Bitcoin ETF as Jane Street Discloses 20.3M Shares and BlackRock Seeds Ethereum Staking ETF

Sovereign Wealth, Market Makers, and Asset Managers Deepen ETF Exposure to Bitcoin and Ether

TL;DR

• Abu Dhabi entities reported more than $1.04 billion in BlackRock’s IBIT at year-end 2025, with 12,702,323 and 8,218,712 shares respectively.
• Jane Street disclosed a 20.3 million-share position in IBIT as of Dec. 31, 2025.
• BlackRock purchased 4,000 seed shares for $100,000 to launch its iShares Staked Ethereum Trust, targeting 70%–95% ETH staking with an 18% rewards cut.

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Abu Dhabi government-linked investors disclosed holdings exceeding $1.04 billion in BlackRock’s iShares Bitcoin Trust at the end of 2025, according to U.S. Securities and Exchange Commission filings dated Dec. 31, 2025. Mubadala Investment Company reported ownership of 12,702,323 shares valued at approximately $631 million, while Al Warda Investments held 8,218,712 shares worth about $408 million. Combined, the positions totaled more than $1.04 billion in regulated Bitcoin exposure through IBIT at year-end, based on reported share values in the filings.

Mubadala’s year-end stake represented a roughly 46% increase from its prior quarterly position of about 8.7 million shares. Al Warda’s holdings rose from approximately 7.96 million shares to more than 8.2 million shares over the same period. Bitcoin traded above $120,000 during the fourth quarter of 2025 before falling to around $68,000 in early 2026, according to COIN360 data tracking the crypto price index and broader coin market cap movements. If unchanged, the combined Abu Dhabi positions would have been valued at just over $800 million at those levels.

Separate regulatory disclosures showed global market maker Jane Street held approximately 20.3 million shares of IBIT as of Dec. 31, 2025. The position places the trading firm among the largest reported holders of BlackRock’s spot Bitcoin ETF. Market participants have circulated speculation about recurring Bitcoin volatility around 10 a.m. Eastern Time, though no official findings or enforcement actions have linked those movements to institutional trading flows. IBIT remains one of the largest U.S.-listed spot Bitcoin ETFs by assets.

Meanwhile, Harvard Management Company reportedly trimmed its Bitcoin ETF exposure by approximately 21% to fund about $87 million in Ethereum-linked products, according to widely shared industry posts, though the university’s endowment office has not confirmed the move publicly. The reported reallocation triggered debate among market watchers about whether institutional capital was starting to shift toward Ethereum after Bitcoin’s recent performance reflected in the broader crypto price index and coin market cap. Some traders interpreted the Harvard adjustment as indicating growing institutional interest in Ethereum vehicles following major Bitcoin gains, while others cautioned that portfolio rebalancing driven by strict allocation ranges, rather than directional bets on relative asset performance, could explain the change.

BlackRock has also begun acquiring Ether ahead of the planned launch of its iShares Staked Ethereum Trust. An amended registration filing detailed that a BlackRock affiliate purchased 4,000 seed shares for $100,000 to capitalize the fund. The structure allows the trust to acquire and hold Ether directly and to participate in staking activities on the Ethereum network.

Regulatory documents indicate the ETF intends to stake between 70% and 95% of its Ether holdings, maintaining a liquidity buffer for creations and redemptions. Filings state that approximately 82% of staking rewards would be passed through to investors, while BlackRock and Coinbase, acting as prime execution agent, would receive a combined 18% share of rewards. Estimated annualized staking yields were cited at around 2.8%, subject to network conditions.

Earlier spot Ethereum ETF products did not incorporate staking features before regulatory guidance evolved. The updated structure outlines operational mechanics addressing staking lockups and redemption timing within the ETF framework. BlackRock’s Ethereum initiative follows its leadership in the Bitcoin ETF market, where sovereign funds and trading firms have disclosed significant IBIT positions amid fluctuations in crypto markets.

This article has been refined and enhanced by ChatGPT.