Norway’s state fund is expanding indirect Bitcoin investment massively
The Norwegian state fund, the world’s largest state fund, has massively expanded its crypto investments compared to the previous year – without keeping Bitcoin directly.
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• Norges Bank Investment Management enlarges Bitcoin investments
• Investments in Strategy, Metabanet and Coinbase expanded
• Standard Chartered provides crypto rally
According to Standard Chartered, the Norwegian State Fund Norges Bank Investment Management has significantly expanded its Bitcoin investments in the second quarter of 2025, as stated in a blog entry by The Block with reference to numbers from Standard Chartered. The fund comprises a fortune on $ 1.7 trillion and has expanded its Bitcoin engagement by 83 percent in the past annual quarter, according to Standard Chartered’s crypto expert Geoffrey Kendrick.
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Indirect Bitcoin investment
However, this was only indirect investments in the world’s largest cryptocurrency after market capitalization. In the second quarter, the Norges Bank Fund significantly expanded its participations in the Bitcoin Hodler company Strategy and MetaPlanet. The expansion of the strategy participation was still clear with an increase of 6,200 BTC equivalents to 11,400 BTC equivalents. At MetAplanet, only an increase of around 300 BTC equivalents had been completed. In addition, according to a report by the crypto analysis company K33, the Norwegian state fund also has shares in the Coinbase crypto tour. Compared to 2024, these were increased by 96 percent.
Digital asset treasuries gain in importance
Kendrick sees a significant meaning, especially in the strong expansion of the strategy position: “The point here is that Norges MSTR uses as a means to get involved with the underlying. […] The increase in one quarter (83 %) must be a proactive position, “he is quoted in the blog entry.
Strategy, previously known as Microstrategy, is actually a company that has specialized in the accumulation of BTC stocks since 2020 and has established the new industry of Digital Asset Treasuries (DATS). MetAplanet also jumped on this train and pursues the Bitcoin business strategy as a value storage. In an investment in one of these DAT companies, institutional investors such as the Norwegian state fund can therefore participate in the cryptom market without having to hold the underlying cryptoassets.
As Strategy stated in the record of the second quarter of 2025, the company had 628,791 BTC at the time, making it the largest public bitcoin hotel. Metaplanet now had 18,113 BTC in the presentation in the second quarter of 2025, which would mean Rank four worldwide.
Standard Chartered predicts crypto rally
For Kendrick, the increase in the crypto division of the Norwegian state fund should not come as a surprise. Already in May the standard chartered expert predicted that more state funds should choose an investment in Bitcoin. The cryptobull continues to adheres to its positive assessment on the price development of the Bitcoin. It was only in July that Kendrick had confirmed his price goal of the Bitcoin at $ 135,000 by the end of September and its forecast of a price of $ 200,000 by the end of the year. By 2028, a BTC could be worth $ 500,000. Most recently, the Bitcoin moved at a level of $ 113,140 (as of August 19, 2025).
Also compared to the second largest cryptocurrency Ethereum after market capitalization, Kendrick is optimistic: until the end of the year it will keep a price of $ 7,500. By 2028 it could even go to $ 25,000. An ETH currently costs around $ 4,140. For Ripple, the standard chartered expert predicts a price of $ 12.50 per XRP, as The Block writes. A ripple token is currently being traded at $ 2.88.
Martina Köhler / Redaktion Finanzen.net