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Norway's sovereign wealth fund doubles its Bitcoin exposure, and the trend of sovereign funds investing in Crypto Assets is on the rise.
On August 14, data from crypto research firm K33 Research showed that the Norwegian sovereign wealth fund, the world's largest state-led wealth fund, increased its indirect exposure to Bitcoin by 192% last year. The fund indirectly holds 7,161 Bitcoins through its portfolio, which includes holdings in Strategy, Metaplanet, and the cryptocurrency trading platform CEX. Norway's increased investment in Bitcoin reflects a broader trend: as the world's first cryptocurrency gradually integrates into the traditional financial system, sovereign wealth funds are gaining indirect exposure through Bitcoin investment vehicles and corporate proxies. The Kazakhstan sovereign wealth fund announced in July its plan to convert part of its assets into crypto assets. ( Jin10 )