Norway Fund’s Bitcoin Exposure Up 192%, Hits $844M
Norway’s sovereign wealth fund, managed by NBIM, has significantly boosted its indirect Bitcoin exposure. In Q2 2025, the fund’s holdings climbed 192% year-on-year, rising from 2,446 BTC in mid-2024 to 7,161 BTC, worth about $844 million. This increase came through corporate treasuries, led by Grayscale’s Bitcoin Strategy adding 3,005.5 BTC and Marathon Digital contributing 216.4 BTC. Other major contributors include Block (85.1 BTC), Coinbase (57.2 BTC), Metaplanet (50.8 BTC) and GameStop (33 BTC), while Riot Platforms trimmed 76.7 BTC. The fund’s total H1 growth of 3,340 BTC underscores the rising institutional adoption of Bitcoin exposure as part of diversified asset allocations. This trend reflects growing demand among large investors to gain indirect crypto exposure without direct holdings. Traders should note that institutional strategies are increasingly influencing Bitcoin’s market dynamics as it trades near $120,000.
Bullish
Norway’s fund adding over 4,700 BTC in a single quarter highlights robust institutional demand and confidence in Bitcoin. In the short term, such large-scale indirect purchases can tighten supply and support price momentum. Over the long term, the shift toward diversified allocations with corporate treasuries suggests sustained buying interest and deeper market liquidity. Historical patterns show that increased sovereign or institutional involvement often precedes bull runs, making this development a bullish signal for traders.