- NBIM increases Bitcoin exposure by 192%, $844 million total.
- Strategy and Marathon Digital contribute significantly.
- Fund complies with regulations, impacts BTC market.
Norges Bank Investment Management increased its Bitcoin exposure by 192% in Q2 2025, amassing 7,161 BTC valued at $844 million, primarily via equity stakes in BTC-heavy companies.
This shift signals growing institutional confidence in digital assets, reflecting a trend towards indirect Bitcoin holdings through equity acquisition amid existing regulatory limitations.
Norway’s sovereign wealth fund, managed by Norges Bank Investment Management, has increased its Bitcoin exposure by 192% in 2025. The fund now holds approximately 7,161 BTC, equivalent to $844 million, as confirmed in its financial report.
The increase in Bitcoin exposure is achieved through indirect means, investing in companies like Strategy and Marathon Digital. This complies with regulatory restrictions in Norway that limit direct crypto holdings by state funds.
The fund’s decision reflects growing institutional confidence in digital assets and impacts Bitcoin directly. Major Bitcoin treasury holders, e.g., Strategy, have significantly contributed to this portfolio expansion.
Financial experts note the fund’s expanded exposure to Bitcoin aligns with broader institutional adoption trends, enhancing its diversified portfolio through equities rather than direct token holdings.
Vetle Lunde of K33 Research highlighted that the trend shows Bitcoin’s place in diversified portfolios is rising. This method of exposure respects regulatory boundaries while supporting digital asset integration.
The trend highlights how Bitcoin is increasingly appearing in diversified portfolios, whether intentionally or as a byproduct of equity investments in BTC-heavy companies. – Vetle Lunde, Senior Analyst, K33 Research
This strategic move aligns with other global institutions leveraging equity stakes for digital currency exposure, emphasizing regulated approaches in the investment process and influenced by historical precedents and regulatory frameworks.
