The Abu Dhabi Investment Council (ADIC) significantly expanded its Bitcoin allocation during the third quarter of 2025.
Regulatory filings reveal that the sovereign fund raised its holdings in BlackRock’s iShares Bitcoin Trust (IBIT) from 2.4 million to 8 million shares by the end of September. This move lifted the value of its position to approximately $518 million at the end of the quarter.
This expansion came just before a sharp reversal in the cryptocurrency market. CoinGecko data indicates that Bitcoin has fallen over 20% since late September. The decline has wiped out the 6.2% gain that IBIT posted during the third quarter, as digital asset weakness and sustained ETF outflows weighed on the sector.
While ADIC’s exact entry price has not been shared, Bloomberg lists IBIT’s average price for the quarter at $64.52 per share. This benchmark offers practical context, though it does not specify when or at what levels the Council executed its purchases.
Long-Term View in Bitcoin
This latest acquisition builds on ADIC’s earlier involvement in the ETF. The council first entered IBIT in February 2025 with an investment of $436.9 million. Accordingly, the Q3 investment round highlights a long-standing interest in the Bitcoin product.
Despite recent volatility in the cryptocurrency market, ADIC continues to view Bitcoin through a long-term lens.
A spokesperson for the Council compared Bitcoin to Gold, stressing that both assets strengthen portfolio diversification. The spokesperson also noted that the fund plans to maintain its exposure to both instruments as part of its ongoing strategy.
Institutional Momentum Meets Rising Outflows
The Council’s increased position aligned with broader institutional engagement in US-listed Bitcoin ETFs. Harvard Management Co. was among the prominent investors that also raised their exposure to IBIT during the same period.
Nevertheless, sentiment has weakened since. US Bitcoin ETFs have seen $3.1 billion in withdrawals in November alone. In particular, IBIT recorded a single-day outflow of $523 million, highlighting growing caution across the sector.