UAE Sovereign Wealth Fund buys $320M in Bitcoin ETF

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The UAE’s sovereign wealth fund has disclosed a significant investment, purchasing $320 million worth of a Bitcoin exchange-traded fund (ETF). This move aligns with a broader trend among oil-rich sovereign wealth funds seeking portfolio diversification as they consider cryptocurrencies to be gaining mainstream legitimacy. Additionally, the UAE has emerged as a global leader in blockchain and digital assets, supporting an environment where such institutional adoption can thrive.

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