TechFlow reports that, according to The Block, the Norwegian sovereign wealth fund’s indirect Bitcoin holdings increased by 149% in 2025, reaching 9,573 BTC. This data was provided by Vetle Lunde, Head of Research at K33.
According to K33’s analysis, as of the end of 2025, the indirect Bitcoin exposure of Norges Bank Investment Management (NBIM) amounted to $837 million, with 81% stemming from its investment strategy. Additionally, NBIM holds shares in related companies including MARA, Metaplanet, Coinbase, and Block.




