Despite the volatility, sovereign wealth funds are eyeing the cryptocurrency. According to a recent report, an executive at BlackRock has revealed sovereign wealth funds are showing interest in gaining exposure to Bitcoin through its iShares Bitcoin Trust (IBIT) ETF, and could start trading it over the next few months. Notably, last month rumors suggested that Qatar’s sovereign wealth fund was looking to make a major investment in Bitcoin, with Max Keiser saying it could be of up to $500 billion. Qatar’s sovereign wealth fund, the Qatar Investment Authority, has total assets of $475 billion, however, and is unlikely to shift the entire fund into a single asset. Foreign wealth funds like Kuwait’s Invstment Authority (KIA), the oldest sovereign wealth fund in the world, and Norway’s well-known $1.6 trillion wealth fund, could make ripples in the market with even conservative allocations.

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