According to Odaily Planet Daily, data from cryptocurrency research firm K 33 Research shows that Norway's sovereign wealth fund, the world's largest state-led wealth fund, increased its indirect Bitcoin exposure by 192% last year. The fund indirectly holds 7,161 Bitcoins through its investment portfolio, which includes holding companies Strategy and Metaplanet, as well as the cryptocurrency exchange Coinbase. Norway's increased Bitcoin holdings reflect 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. Kazakhstan's sovereign wealth fund announced in July that it plans to convert some of its assets into cryptocurrency.