Norway’s sovereign wealth fund ups indirect Bitcoin exposure in 2025

Norway’s sovereign wealthiness fund, the largest state-directed wealthiness money successful the world, accrued its indirect Bitcoin (BTC) vulnerability by 192% implicit the past year, according to crypto probe institution K33 Research.

The fund has indirect vulnerability to 7,161 BTC done its concern portfolio, which includes treasury companies Strategy and Metaplanet and crypto speech Coinbase.

Norway’s sovereign wealthiness money continues to summation its Bitcoin and crypto exposure. Source: Vetle Lunde

The money presently holds implicit 11.9 cardinal Norwegian krone ($1.2 billion) of Strategy’s stock, a 133% summation from 2024. Similarly, the money has accrued its Coinbase holdings by implicit 96% since 2024.

Norway’s summation successful BTC holdings reflects a broader inclination of sovereign wealthiness funds gaining indirect exposure done BTC concern vehicles and firm proxies, arsenic the world’s archetypal cryptocurrency becomes integrated into the accepted fiscal system.

The Norwegian sovereign wealthiness money besides accrued vulnerability to BTC holding institution Strategy successful 2025. Source: Norges Bank Investment Management

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Sovereign and authorities wealthiness funds participate crypto crippled done the broadside door

Sovereign wealthiness and authorities pension funds legally mandate managers to put lone successful pre-defined plus classes specified arsenic fixed-income securities, firm bonds, equities and others.

Because of these restrictions, money managers who privation to put successful Bitcoin oregon different cryptocurrencies indispensable summation indirect vulnerability done an concern conveyance similar an exchange-traded money (ETF), a firm enslaved oregon a institution proxy similar Strategy.

The State of Wisconsin State Investment Board (SWIB), the enactment that manages the US state’s pension system, was 1 of the archetypal state-level pension funds successful the state to disclose indirect Bitcoin exposure done a $164 cardinal concern into BTC ETFs.

In February, SWIB disclosed that its BTC holdings astir doubled, surging to implicit $321 million, according to a Securities and Exchange Commission (SEC) filing.

The pension manager sold disconnected BTC holdings successful May but retained a $50 cardinal presumption successful BTC proxy Strategy.

Kazakhstan’s sovereign wealthiness money announced successful July that it plans to convert a information of its assets to crypto.

Timur Suleimenov, caput of the National Bank of Kazakhstan, said the prospective determination is intended to make much concern income for the wealthiness fund, and the authorities is besides exploring converting different assets similar golden and overseas currency reserves to crypto.

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