Abu Dhabi's Bitcoin Bet Pays Off as Harvard Exits Ethereum

Abu Dhabi's sovereign wealth funds continue to demonstrate a strong commitment to bitcoin. According to recent SEC filings, Mubadala Investment Company has raised its stake in the BlackRock Bitcoin Trust by 16% to 14.7 million shares valued at approximately $566 million.

This increase marks the fifth consecutive quarter that Mubadala has added to its position, with a total value of over $1 billion in bitcoin ETFs held by Abu Dhabi-linked entities as of the end of last year.

Other institutions have taken different approaches. Harvard University has cut its BlackRock Bitcoin ETF holdings by 43% and fully exited its BlackRock Ethereum ETF. In contrast, Dartmouth College has disclosed a $3.67 million position in the Bitwise Solana Staking ETF, marking one of the first known institutional endowment positions in a Solana ETF.

The Q1 2026 13-F filings suggest growing divergence among institutional crypto holders, with sovereign wealth funds continuing to add exposure steadily while some university endowments pull back. Mubadala's consistent accumulation across five consecutive quarters stands out as one of the clearest long-term institutional commitments to bitcoin.