Bullish
Norway Sovereign Fund Indirect BTC Exposure Hits Record High
20:27
NBIM indirect Bitcoin holdings surge 21.2% to 11,549 BTC in H1, driven by Strategy. Ethereum exposure also rises via new Bitmine stake.
Woofun AI data shows that Norway's sovereign wealth fund (NBIM) reached a record indirect Bitcoin exposure of 11,549 BTC, valued at approximately $725 million, during the first half of the year. This figure marks a 21.2% increase from the previous half-year and a 60.5% rise year-over-year, continuing a six-period growth streak. Strategy dominates this allocation, accounting for 86% of the total exposure with 9,914 BTC, while NBIM holds 1.17% of the company's shares. Other contributors include Metaplanet, MARA, Coinbase, Block, and Tesla. K33 noted that this exposure represents 0.03% of NBIM's total assets, down from 0.04% at the end of 2025, suggesting it stems from diversified equity holdings rather than direct Bitcoin allocation.
Additionally, NBIM acquired new stakes in Bitmine, an Ethereum-focused firm led by Tom Lee. As of June 30, the fund held 6.15 million shares worth approximately $88.3 million, representing 1.16% of its holdings. This position translates to an indirect Ethereum exposure of roughly 67,340 ETH, valued at approximately $126.3 million.
WOOFUN AI
Impact Assessment · Quick Read
The record high in indirect BTC exposure highlights the growing correlation between sovereign wealth portfolios and public crypto-adjacent equities. With Strategy comprising the vast majority of this exposure, NBIM's risk profile remains tightly linked to MicroStrategy's corporate strategy rather than direct spot market dynamics. The simultaneous accumulation of Bitmine shares indicates a broadening interest in Ethereum ecosystem infrastructure, potentially signaling a shift toward diversified digital asset proxy investments.
Generated by WOOFUN AI · For reference only, not investment advice
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