The Abu Dhabi Investment Council (ADIC) significantly increased its holdings in BlackRock's Bitcoin ETF (IBIT) during the third quarter, tripling its position to nearly 8 million shares. This investment is valued at approximately $518 million based on end-of-quarter prices. ADIC stated it is establishing a "small but long-term allocation," viewing Bitcoin as a store of value similar to gold, and plans to maintain this position in its long-term portfolio. Meanwhile, Abu Dhabi's sovereign wealth fund, Mubadala, has kept its 8.7 million IBIT shares unchanged.