Norway sovereign wealth fund's indirect bitcoin exposure grew 149% in 2025 to 9,573 BTC: K33 - The Block

Norway's sovereign wealth fund, known as the Government Pension Fund Global (GPFG), has significantly increased its indirect exposure to Bitcoin, as reported by K33 Research. In 2025, the fund's holdings in Bitcoin rose by an impressive 149%, reaching a total of 9,573 BTC. This increase reflects a growing trend among institutional investors to diversify their portfolios by including cryptocurrencies.

The GPFG, which is one of the largest sovereign wealth funds in the world, traditionally invests in a variety of asset classes, including equities and bonds. However, its foray into Bitcoin is primarily indirect, achieved through investments in companies that hold Bitcoin or are involved in the cryptocurrency ecosystem. This strategy allows the fund to gain exposure to the potential upside of Bitcoin while mitigating some of the risks associated with direct investment in cryptocurrencies.

K33’s findings illustrate a broader trend of increasing institutional interest in cryptocurrencies, as major investors look for opportunities beyond traditional markets. The rising popularity of Bitcoin among institutional players is indicative of a changing perception of cryptocurrencies, which are gradually being viewed as a legitimate asset class.

The GPFG's significant investment in Bitcoin aligns with the fund's long-term strategy of maximizing returns while managing risk. By investing in companies within the cryptocurrency sector, the fund aims to benefit from the growth of the digital asset market without directly holding Bitcoin on its balance sheet. This approach reflects a cautious yet optimistic stance on the future of cryptocurrencies.

As Bitcoin continues to gain traction among large investors, its integration into traditional investment portfolios could reshape the landscape of global finance. With the GPFG's increased exposure, other sovereign wealth funds and institutional investors may follow suit, further legitimizing the role of cryptocurrencies in mainstream finance.

Key Takeaways

Norway's sovereign wealth fund increased its indirect Bitcoin exposure by 149% in 2025, totaling 9,573 BTC.
The fund achieves this exposure through investments in companies involved in the cryptocurrency sector rather than direct Bitcoin holdings.
The trend reflects a growing institutional interest in cryptocurrencies as a legitimate asset class.
The GPFG's strategy aims to maximize returns while managing risks associated with digital assets.

This article was inspired by reporting from Google News Crypto. · Report an issue