Norway’s $1.7T Sovereign Wealth Fund Raises Bitcoin Exposure 83% in Q2

• Norway’s $1.7 trillion sovereign fund raised its Bitcoin-equivalent holdings to 11,400 BTC.
• The increase was achieved through investments in MicroStrategy and Metaplanet.

On August 16, 2025, The Block revealed a bold 83% increase in Norway’s sovereign wealth fund’s Bitcoin exposure, underscoring its growing confidence in digital assets. The fund, which is the world’s largest with $1.7 trillion in assets, expanded its holdings through indirect investments in companies closely linked to Bitcoin.

This substantial increase in Bitcoin exposure was achieved by purchasing additional shares in two key publicly traded companies: MicroStrategy (MSTR) and Metaplanet. According to an analysis of 13F filings with the U.S. Securities and Exchange Commission conducted by Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, the fund’s Bitcoin-equivalent exposure grew from 6,200 BTC to 11,400 BTC during the second quarter. A majority of this exposure comes from its investment in MicroStrategy—a major corporate vehicle for indirect Bitcoin investment.

MicroStrategy remains the largest publicly traded corporate holder of Bitcoin and has adopted the cryptocurrency as a core component of its treasury strategy. This approach makes the company an appealing choice for institutional investors like Norway’s sovereign fund seeking exposure to the cryptocurrency market without direct ownership. In addition, approximately 200 BTC-equivalent exposure was obtained through investments in Metaplanet, a company often referred to as "Japan’s MicroStrategy" due to its similar strategy.

This move highlights a growing trend among sovereign wealth funds toward strategic exposure to digital assets. Rather than holding Bitcoin directly, these funds rely on corporate proxies such as MicroStrategy and Metaplanet for participation in Bitcoin’s growth potential. This strategy allows them to avoid complexities and perceived risks associated with owning the cryptocurrency directly. Sovereign entities adopting such approaches signify a gradual but notable shift in institutional cryptocurrency adoption.

Norway’s decision aligns with broader market trends. Institutional interest in cryptocurrencies has increasingly been fueled by developments such as Bitcoin ETFs, which are driving mainstream adoption. Experts suggest that Norway’s proactive increase in Bitcoin exposure could set a precedent for other sovereign wealth funds globally, prompting them to explore similar strategies and funnel substantial capital into companies with significant Bitcoin holdings.

As of August 16, 2025, at 15:08 UTC, Bitcoin (BTC) is trading at $117,829.77, marking a 0.41% increase in 24-hour trading volume, according to CoinMarketCap.