Abu Dhabi’s Al Warda Investments Triples Bitcoin ETF Holdings to $518M

Core Insights - Al Warda Investments, under the Abu Dhabi Investment Council (ADIC), significantly increased its Bitcoin exposure by over 230% in Q3, raising its holdings to nearly 8 million shares valued at $517.6 million [1][3][9] - This strategic move indicates a shift in ADIC's investment approach, moving from private market strategies to public digital asset investments, particularly in Bitcoin [4][9] Investment Strategy - The increase in Bitcoin holdings aligns with a broader trend of institutional investors entering or expanding their positions in spot Bitcoin ETFs, despite recent market volatility [6][9] - ADIC views Bitcoin as a long-term store of value, akin to gold, and plans to hold both assets for portfolio diversification [5][6] Market Context - Bitcoin's price experienced significant fluctuations, peaking near $126,000 in October before dropping below $90,000 in November, which has affected ETF sentiment [3][6] - The iShares Bitcoin Trust (IBIT) faced its largest single-day outflow on November 18, 2024, but showed signs of recovery with a net inflow shortly after [7] Institutional Trends - Harvard's endowment fund also made a notable investment in Bitcoin, allocating $443 million to IBIT, which represents about 20% of its U.S. equity exposure, highlighting growing institutional interest in Bitcoin [8]