**[Bloomberg: Abu Dhabi Investment Council Tripled Bitcoin Bets Months Before Crypto Crash]** BlockBeats News, November 19, according to Bloomberg, the Abu Dhabi Investment Council (ADIC) tripled its holdings in Bitcoin exchange-traded funds (ETFs) during the third quarter, just before the cryptocurrency bull market turned into a brutal sell-off. According to a regulatory filing, the institution, independently operated by the sovereign wealth fund Mubadala Investment Co., increased its holdings in BlackRock Inc.'s iShares Bitcoin Trust ETF to nearly 8 million shares as of September 30. The position, disclosed by a subsidiary of ADIC, was valued at approximately $518 million at the time. Three months earlier, the institution held 2.4 million shares.