Norway's Government Pension Fund Global Surpasses $725 Million in Indirect Exposure to Bitcoin

Norway's Government Pension Fund Global has seen its indirect exposure to Bitcoin reach new heights. As of the end of H1 2026, the fund holds approximately 11,549 BTC, worth around $725 million. This represents a 21.2% increase during the first half of the year and accounts for 0.03% of the total assets under management, which sit at around $2.4 trillion.

The majority of this exposure comes from holdings in companies like Strategy, which makes up 86% or 9,914 BTC of the total. The fund holds 1.17% of Strategy shares, valued at $357.3 million as of June 30. Other notable holdings include Metaplanet, MARA, Coinbase, Block, and Tesla.

In a separate development, Luxembourg's Intergenerational Sovereign Wealth Fund (FSIL) has allocated 1% of its portfolio to Bitcoin, making it the first European sovereign fund to hold the asset. The fund manages $730 million and expects to reach $850 million euros by the end of 2026.

The regulatory landscape is also shifting in favor of institutional adoption. The US SEC proposed new rules on September 1, 2026, to allow registered transfer agents to use distributed ledger technology for tracking securities ownership. This proposal updates rules from the 1970s and 1980s.