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The Abu Dhabi Investment Council (ADIC) increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) ETF before the cryptocurrency market downturn. ADIC disclosed holding nearly 8 million shares valued at $518 million. Other institutional investors have also increased exposure to IBIT, but overall sentiment has weakened with record outflows from Bitcoin ETFs. ADIC’s move reflects its ambition to become a global digital asset hub.
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