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The Abu Dhabi Investment Council ADIC's BlackRock IBIT holdings value exceeded $500 million in the third quarter.

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Odaily News The Abu Dhabi Investment Authority (ADIC) significantly increased its Bitcoin ETF holdings in the third quarter—raising its holdings of BlackRock's IBIT to nearly 8 million shares, tripling from the previous quarter, valued at approximately $518 million based on the quarter-end price. ADIC stated that it is establishing a “small but long-term allocation” and views Bitcoin as a store of value similar to gold, intending to hold it in the long-term portfolio. Meanwhile, the Abu Dhabi sovereign fund Mubadala maintains its holdings of 8.7 million shares of IBIT unchanged. (Bloomberg)

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