Norway's Sovereign Wealth Fund Increases Bitcoin Exposure to $862.8 Million, Setting New Record.

The Norwegian sovereign wealth fund has increased its indirect exposure to bitcoin to 7,161 BTC, worth around $862.8 million, according to K33 Research. This represents an all-time high and a 193% increase in the past year. The fund's exposure comes from stakes in companies that hold bitcoin, including MicroStrategy, Block, Coinbase, Marathon Digital, and Metaplanet. The fund's bitcoin exposure is estimated to be around $138 per citizen.

The Norwegian sovereign wealth fund, Norges Bank Investment Management (NBIM), has significantly increased its indirect exposure to Bitcoin (BTC), reaching an all-time high of 7,161 BTC, according to K33 Research [2]. This marks a 193% increase from the previous year, highlighting a growing institutional interest in cryptocurrencies.

The fund's increased exposure is primarily attributed to investments in Bitcoin-heavy companies such as MicroStrategy, Block, Coinbase, Marathon Digital, and Metaplanet. These companies hold substantial amounts of Bitcoin, which NBIM indirectly invests in through equity stakes. For instance, MicroStrategy (MSTR) alone added 3,005.5 BTC to NBIM's indirect exposure, while Marathon Digital (MARA) contributed 216.4 BTC [3].

This strategic move by NBIM reflects a broader trend of institutional investors gaining indirect exposure to Bitcoin through corporate proxies. The fund's increased Bitcoin exposure is estimated to be around $138 per citizen, indicating a significant allocation in its diversified portfolio.

The surge in Bitcoin holdings also signals a potential shift in corporate crypto investment strategies. Other institutional investors, such as the State of Wisconsin State Investment Board (SWIB), have also disclosed indirect Bitcoin exposure, further indicating the integration of cryptocurrencies into traditional financial systems [2].

While NBIM has not officially confirmed the 193% year-on-year increase in indirect Bitcoin exposure, third-party analysis from K33 Research provides a comprehensive overview of the fund's Bitcoin holdings. This analysis suggests that NBIM's increased portfolio allocation through intermediaries could lead to further adoption and innovation in cryptocurrency investment products [1].

As Bitcoin continues to gain traction and integrate into the financial system, institutional investors like NBIM are playing a crucial role in shaping the market dynamics. The fund's strategic allocation to Bitcoin-heavy companies not only reflects its growing confidence in the digital asset but also sets a precedent for other institutional investors to follow suit.

References:
[1] https://coincu.com/bitcoin/norwegian-wealth-fund-bitcoin-surge/
[2] https://cointelegraph.com/news/norway-sovereign-wealth-fund-bitcoin-exposure
[3] https://www.mitrade.com/insights/news/live-news/article-3-1034468-20250813