Norway’s sovereign wealth fund Bitcoin holdings surpass 11,549 BTC, setting a new all-time high

Odaily News: According to data from K33 Research Head Vetle Lunde, as of the end of the first half of 2026, Norway's sovereign wealth fund has increased its indirect Bitcoin exposure to 11,549 BTC—an all-time high—through holdings in companies such as Strategy, Metaplanet, MARA, Coinbase, Block, and Tesla, valued at approximately $725 million. This exposure grew by 21.2% in the first half of the year and 60.5% over the past year, marking the sixth consecutive reporting period of increase.

Among these, Strategy accounts for nearly 86% of the fund's indirect Bitcoin exposure, corresponding to approximately 9,914 BTC. As of June 30, the fund held about 1.17% of Strategy's shares. Metaplanet corresponds to 671 BTC, MARA to 421 BTC, and Coinbase, Block, and Tesla correspond to 183 BTC, 120 BTC, and 97 BTC, respectively.

K33 notes that this exposure is likely not the result of the fund's active allocation to Bitcoin, but rather an indirect effect of its broadly diversified investment portfolio. The related Bitcoin exposure represents approximately 0.03% of the fund's total assets.

Additionally, the fund has for the first time gained indirect ETH exposure through the Ethereum treasury company BitMine. As of June 30, it held 6.15 million shares of BitMine, valued at $88.3 million. Based on BitMine's current ETH holdings, this corresponds to indirect exposure of approximately 67,340 ETH.