Norway’s sovereign wealth fund boosts Bitcoin exposure by 192% in Q2

Norway’s $1.9 trillion sovereign wealth fund, run by Norges Bank Investment Management, hit 7,161 BTC in indirect Bitcoin exposure in the second quarter of this year, according to Vetle Lunde, Head of Research at K33. That’s up 192% from 2,446 BTC a year earlier.

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The fund’s increased Bitcoin exposure comes through investments in Bitcoin-heavy companies, primarily Strategy and Marathon Holdings, which are among the largest corporate players in the Bitcoin market.

NBIM also maintains positions in Block, Coinbase, and Metaplanet, Japan’s largest Bitcoin treasury holder.

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Additional Bitcoin exposure comes from smaller holdings in Tesla, GameStop, and Mercado Libre, among other companies.

Unlike Abu Dhabi’s Mubadala Investment, which has invested in BlackRock’s spot Bitcoin ETF, NBIM builds its Bitcoin exposure indirectly through stakes in companies with sizable reserves, diversifying its portfolio without holding crypto directly.