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Project Overview
Sovereign is an ecosystem of interoperable and scalable rollups that can be run on any blockchain. The Sovereign SDK will provide all the necessary components of a blockchain, such as a peer-to-peer network, a database, and an RPC node, allowing developers to focus on the business logic of their chain. Furthermore, it provides a set of default modules that can work efficiently in a zero-knowledge environment, including a token implementation, an authenticated data store, and a bridging module. Developers can combine these primitives into app-chains or build their own state-transition functions from scratch by implementing a standard set of APIs.
A US senator plans to introduce a bill to establish an AI sovereign wealth fund, proposing to levy a one-time 50% equity tax on the largest US AI companies
US Senator Bernie Sanders plans to introduce the "American AI Sovereign Wealth Fund Act," which proposes to levy a one-time 50% equity tax on the largest AI companies in the United States. The relevant shares would be injected into a national sovereign wealth fund, with the wealth generated by AI distributed to all American citizens through cash dividends, healthcare, education, and housing.Bernie Sanders argues that the trillions of dollars in wealth created by AI should not be captured solely by a few tech companies and their shareholders. He stated that the full text of the bill will be released in the coming weeks. Currently, the proposal is at the stage of a policy initiative, and there is significant uncertainty regarding its path to legislation and implementation.
South Korea Plans to Inject Semiconductor Windfall Taxes into Sovereign Wealth Fund, Expanding Seed Capital to Nearly $20 Billion
the South Korean government plans to inject some of the excess tax revenue from the semiconductor industry boom in cash into a new sovereign wealth fund set to launch in the second half of this year. The fund originally planned to raise 20 trillion won through in-kind contributions, such as government-held shares in state-owned enterprises, but has now decided to add several trillion won in cash, expanding its seed capital to nearly 30 trillion won (approximately $20 billion).The fund is a growth-oriented fund aimed at making medium to long-term investments in promising companies at the growth stage within South Korea's strategic industries. The relevant establishment bill is expected to be submitted to the National Assembly in June, with the funds included in the 2027 budget proposal.
Harvard University Liquidates Ethereum ETF; Abu Dhabi Sovereign Wealth Fund Increases IBIT Holdings
several sovereign wealth funds, universities, and traditional financial institutions have recently disclosed their 13F holdings for the first quarter of 2026.Among them, Mubadala, the Abu Dhabi sovereign wealth fund, increased its holdings in the BlackRock iShares Bitcoin Trust ETF (IBIT) from 12.7023 million shares to 14.7219 million shares. The newly added holdings are valued at over $90 million, bringing the total value of its position to nearly $660 million. Meanwhile, its subsidiary, the Abu Dhabi Investment Council (ADIC), maintained its IBIT position unchanged at 8.2187 million shares, worth approximately $315.8 million.Regarding university funds, Harvard University's endowment fund held 3.0446 million shares of IBIT, valued at around $117 million, a reduction of about 43% compared to the end of 2025. Additionally, Harvard completely liquidated its position in the BlackRock Ethereum spot ETF, which was established last quarter and valued at approximately $86.8 million.Furthermore, Dartmouth College maintained its IBIT holdings unchanged and disclosed for the first time holding approximately 304,800 shares of the Bitwise Solana Staking ETF, valued at around $3.67 million, making it one of the first university endowment funds to publicly allocate to a Solana-related ETF.On the traditional financial institution side, institutions such as the Royal Bank of Canada (RBC) and Barclays continued to increase or adjust their IBIT-related spot and options positions, while Hong Kong-based Laurore reduced its IBIT holdings from 8.7863 million shares to 6.8463 million shares. (The Block)
Q1 13F Filings: Abu Dhabi Sovereign Fund Significantly Increases IBIT Stake; Harvard University Fully Exits Ethereum ETF
According to The Block, several sovereign wealth funds, university endowments, and traditional banks disclosed their 13F holdings for Q1 2026: • Mubadala, Abu Dhabi’s sovereign wealth fund, increased its position in the BlackRock iShares Bitcoin Trust ETF (IBIT) from 12.7 million shares to 14.72 million shares—adding over $90 million—bringing its total holding value to approximately $566 million (a 16% increase quarter-on-quarter). Its subsidiary, the Abu Dhabi Investment Council (ADIC), maintained its IBIT position unchanged at 8.21 million shares, valued at approximately $316 million. • University endowments’ crypto ETF holdings remained largely stable. • Traditional financial institutions actively rebalanced their positions: Royal Bank of Canada (RBC) increased its spot IBIT holdings while hedging with put/call options; Scotiabank sold off Trump-related Bitcoin stocks and added 214,000 IBIT shares; Barclays held approximately 4.46 million shares of spot IBIT and deployed a large options position; Hong Kong–based Laurore reduced its IBIT holdings from 8.78 million shares to 6.85 million shares.
Related news
A US senator plans to introduce a bill to establish an AI sovereign wealth fund, proposing to levy a one-time 50% equity tax on the largest US AI companies
US Senator Bernie Sanders plans to introduce the "American AI Sovereign Wealth Fund Act," which proposes to levy a one-time 50% equity tax on the largest AI companies in the United States. The relevant shares would be injected into a national sovereign wealth fund, with the wealth generated by AI distributed to all American citizens through cash dividends, healthcare, education, and housing.Bernie Sanders argues that the trillions of dollars in wealth created by AI should not be captured solely by a few tech companies and their shareholders. He stated that the full text of the bill will be released in the coming weeks. Currently, the proposal is at the stage of a policy initiative, and there is significant uncertainty regarding its path to legislation and implementation.
Iranian Parliament to Approve "Sovereign Jurisdiction" Plan for the Strait of Hormuz
Odaily Odaily reports: Saleemi, a member of the Iranian Parliament's Presidium, stated that Iran's plan to "exercise sovereign jurisdiction" over the Strait of Hormuz is set to be approved by the parliament and is expected to be passed as a permanent law. According to Iran's Student News Agency, Saleemi said that only Iran and Oman have the right to make decisions regarding the management of the Strait of Hormuz. Iran has initiated communication with Oman, which has expressed preliminary consent, and the relevant plan is expected to be finalized soon. (Xinhua News Agency)
South Korea Plans to Inject Semiconductor Windfall Taxes into Sovereign Wealth Fund, Expanding Seed Capital to Nearly $20 Billion
the South Korean government plans to inject some of the excess tax revenue from the semiconductor industry boom in cash into a new sovereign wealth fund set to launch in the second half of this year. The fund originally planned to raise 20 trillion won through in-kind contributions, such as government-held shares in state-owned enterprises, but has now decided to add several trillion won in cash, expanding its seed capital to nearly 30 trillion won (approximately $20 billion).The fund is a growth-oriented fund aimed at making medium to long-term investments in promising companies at the growth stage within South Korea's strategic industries. The relevant establishment bill is expected to be submitted to the National Assembly in June, with the funds included in the 2027 budget proposal.
Abu Dhabi Sovereign Wealth Fund Mubadala Increases IBIT Holdings to Nearly $660 Million
Abu Dhabi’s sovereign wealth fund Mubadala has increased its IBIT holdings to approximately $660 million worth of Bitcoin ETF shares. (Cointelegraph)
Harvard University Liquidates Ethereum ETF; Abu Dhabi Sovereign Wealth Fund Increases IBIT Holdings
several sovereign wealth funds, universities, and traditional financial institutions have recently disclosed their 13F holdings for the first quarter of 2026.Among them, Mubadala, the Abu Dhabi sovereign wealth fund, increased its holdings in the BlackRock iShares Bitcoin Trust ETF (IBIT) from 12.7023 million shares to 14.7219 million shares. The newly added holdings are valued at over $90 million, bringing the total value of its position to nearly $660 million. Meanwhile, its subsidiary, the Abu Dhabi Investment Council (ADIC), maintained its IBIT position unchanged at 8.2187 million shares, worth approximately $315.8 million.Regarding university funds, Harvard University's endowment fund held 3.0446 million shares of IBIT, valued at around $117 million, a reduction of about 43% compared to the end of 2025. Additionally, Harvard completely liquidated its position in the BlackRock Ethereum spot ETF, which was established last quarter and valued at approximately $86.8 million.Furthermore, Dartmouth College maintained its IBIT holdings unchanged and disclosed for the first time holding approximately 304,800 shares of the Bitwise Solana Staking ETF, valued at around $3.67 million, making it one of the first university endowment funds to publicly allocate to a Solana-related ETF.On the traditional financial institution side, institutions such as the Royal Bank of Canada (RBC) and Barclays continued to increase or adjust their IBIT-related spot and options positions, while Hong Kong-based Laurore reduced its IBIT holdings from 8.7863 million shares to 6.8463 million shares. (The Block)
Q1 13F Filings: Abu Dhabi Sovereign Fund Significantly Increases IBIT Stake; Harvard University Fully Exits Ethereum ETF
According to The Block, several sovereign wealth funds, university endowments, and traditional banks disclosed their 13F holdings for Q1 2026: • Mubadala, Abu Dhabi’s sovereign wealth fund, increased its position in the BlackRock iShares Bitcoin Trust ETF (IBIT) from 12.7 million shares to 14.72 million shares—adding over $90 million—bringing its total holding value to approximately $566 million (a 16% increase quarter-on-quarter). Its subsidiary, the Abu Dhabi Investment Council (ADIC), maintained its IBIT position unchanged at 8.21 million shares, valued at approximately $316 million. • University endowments’ crypto ETF holdings remained largely stable. • Traditional financial institutions actively rebalanced their positions: Royal Bank of Canada (RBC) increased its spot IBIT holdings while hedging with put/call options; Scotiabank sold off Trump-related Bitcoin stocks and added 214,000 IBIT shares; Barclays held approximately 4.46 million shares of spot IBIT and deployed a large options position; Hong Kong–based Laurore reduced its IBIT holdings from 8.78 million shares to 6.85 million shares.