Morgan Stanley and two Abu Dhabi sovereign-linked funds expanded their positions in BlackRock's spot Bitcoin ETF during recent quarters, according to SEC 13F filings. Morgan Stanley raised its IBIT stake by 23% even as the position's dollar value fell, while Mubadala and Al Warda Investments extended a five-quarter buying streak that now totals $764 million.
Morgan Stanley increased its holding in BlackRock's iShares Bitcoin Trust (IBIT) to about 16.5 million shares, up from roughly 13.4 million shares at the end of the first quarter. The U.S. Securities and Exchange Commission filing, signed on Aug. 11, showed the addition of about 3.04 million shares, a quarterly increase of about 23%.
Morgan Stanley's stake grew as its dollar value fell
The reported value of the IBIT position actually fell by nearly 18%, from around $667 million to $549 million, as Bitcoin's price declined during the three months ended June 30. Morgan Stanley submitted the report as a combination Form 13F covering positions held by several related managers, a filing that contained 45,905 entries with an aggregate reported value of about $1.89 trillion.
Alongside the larger Bitcoin ETF position, the bank also expanded exposure elsewhere. Morgan Stanley's holding in BlackRock's iShares Ethereum Trust ETF increased by about 202% to approximately 4.6 million shares during the same quarter.
Abu Dhabi funds extend a five-quarter buying streak
Separately, two Abu Dhabi investment vehicles have been building their own IBIT positions. Mubadala Investment Company and Al Warda Investments, an entity linked to the Abu Dhabi Investment Council, collectively hold roughly $764 million worth of the ETF, according to the latest SEC 13F filings.
Mubadala alone accounts for 14.7 million IBIT shares valued at approximately $565.6 million as of March 31, while Al Warda holds around 8.2 million shares. Mubadala first disclosed IBIT exposure of at least $436 million back in Q4 2024 and has added to its position in every quarter since.
The latest filing shows a 16% increase from the roughly 12.7 million shares Mubadala held at the end of 2025. Neither Mubadala nor Al Warda reported any direct cryptocurrency holdings in their filings; the entire exposure runs through BlackRock's regulated ETF product rather than direct token purchases.
Both filings are quarterly snapshots rather than real-time positions, so neither shows purchases, sales, or price moves that occurred after their respective reporting dates.
Sources: crypto.news, Crypto Briefing
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