Abu Dhabi Funds increased its bitcoin position by 46% to $1 Billion. As we've said--institutions are buying while retail is selling

Per Bloomberg - The sovereign wealth fund increased its holding in BlackRock Inc.’s iShares Bitcoin Trust ETF by 46% from the previous quarter to 12.7 million shares as of Dec. 31, according to a filing. Abu Dhabi Investment Council, an independently-run unit of Mubadala, also boosted its position by 3% to 8.2 million shares through a subsidiary.

Their cumulative stakes were worth more than $1 billion, according to the funds’ filings, though details on the purchase prices weren’t immediately available. IBIT, which tracks the value of Bitcoin, lost over 23% of its value in the fourth quarter and has fallen by more than a fifth so far this year.