According to Crypto Research Company K33 Research, Norwegian Sovereign Wealth Fund, the world’s largest nationally oriented fund, increased its indirect Bitcoin (BTC) exposure by 192% last year.
The fund has indirect exposure to 7,161 BTC through its financing company strategy and investment portfolio including Metaplanet and Crypto Exchange Coinbase.
The fund currently holds over 11.9 billion Norwegian krone ($1.2 billion) shares in strategy, up 133% since 2024. Similarly, the fund has grown by more than 96% since 2024.
Norway’s increasing BTC holdings reflects the broader trend of sovereign wealth funds gaining indirect exposure through BTC investment vehicles and corporate proxies as the world’s first cryptocurrency is integrated into the traditional financial system.
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Sovereign and state wealth funds enter crypto games through the side door
Sovereign Wealth and State Pension Funds legally require managers to invest only in predefined asset classes such as fixed income securities, head office bonds, and equities.
Due to these restrictions, fund managers who want to invest in Bitcoin or other cryptocurrencies must acquire indirect exposure through investment vehicles such as funds (ETFs), corporate bonds, or corporate proxy such as strategies traded on exchanges.
The Wisconsin State Investment Board (SWIB), the organisation that governs the US state pension scheme, was one of the nation’s first state-level pension funds to disclose indirect Bitcoin exposure through a $164 million investment in BTC ETFs.
https://www.youtube.com/watch?v=wao1nc5-3qu
In February, SWIB revealed that BTC holdings almost doubled, surged to more than $321 million, according to a Securities and Exchange Commission (SEC).
The pension manager sold BTC Holdings in May, but held a $50 million position in the BTC proxy strategy.
Kazakhstan’s Sovereign Wealth Fund announced that it plans to convert some of its assets to Crypto in July.
Timur Suleimenov, principal of the Kazakhstan National Bank, said the future move is aimed at increasing the wealth fund’s investment revenue, and the government is also hoping to convert other assets, such as gold and foreign currency reserves, into crypto.
magazine: Pakistan will deploy Bitcoin reserves to defi for yields, says Bilal bin Saqib
