Norway’s Sovereign Wealth Fund Boosts Bitcoin Holdings via Coinbase and Other Investments
Norway's sovereign wealth fund, the largest state-managed investment vehicle globally, has significantly increased its indirect Bitcoin exposure by 192.7%, now totaling $862.8 million. This expansion includes holdings equivalent to 7,161 BTC through strategic investments in MicroStrategy, Metaplanet, and Coinbase shares. The move underscores growing institutional confidence in Bitcoin, even as the cryptocurrency experiences minor volatility, currently trading at $118,874 with a 1.89% dip in the past 24 hours. This development highlights the increasing integration of digital assets into traditional investment portfolios.
Norway's Sovereign Wealth Fund Expands Bitcoin Exposure by 192.7% to $862M
Norway's sovereign wealth fund, the world's largest state-managed investment vehicle, has dramatically increased its indirect Bitcoin exposure by 192.7% to $862.8 million. The fund now holds the equivalent of 7,161 BTC through investments in MicroStrategy, Metaplanet, and Coinbase shares.
The move comes as bitcoin trades at $118,874, showing slight volatility with a 1.89% dip in the past 24 hours. K33 Research highlights this strategic allocation, noting the fund's MicroStrategy position grew 133% to 11.9 billion Norwegian krone ($1.2 billion) since 2024, while its Coinbase holdings surged 96%.
Sovereign funds face regulatory barriers to direct cryptocurrency investments, forcing them to seek exposure through corporate proxies. Following Norway's lead, the State of Wisconsin Investment Board has begun similar indirect crypto allocations, signaling institutional adoption through compliant channels.
Coinbase Acquires Deribit in $2.9B Deal to Dominate Crypto Derivatives Market
Coinbase has finalized its acquisition of Deribit for $2.9 billion, solidifying its position as the leading global crypto derivatives platform. The deal, comprising $700 million in cash and 11 million shares of Coinbase stock, marks a strategic expansion into the rapidly growing options and futures market.
Deribit's dominance is undeniable—the platform processed over $1 trillion in trading volume last year, with July 2025 setting a monthly record of $185 billion. Its open interest currently hovers NEAR $59 billion, reflecting institutional demand for sophisticated crypto products. The acquisition grants Coinbase direct control of the industry's largest derivatives book at a pivotal moment, as crypto markets mature and traditional finance seeks exposure.
This MOVE positions Coinbase to challenge offshore exchanges head-on while capturing both retail and institutional flows. The timing is deliberate: Deribit's trading volume nearly doubled from 2023 to 2024, surging 95% to $1.185 trillion. Market makers are already repositioning liquidity in anticipation of Coinbase's scaled infrastructure.
Crypto Market Drops $133 Billion Amid Inflation Concerns
The cryptocurrency market shed $133 billion in value, falling to a $3.98 trillion market cap following unexpectedly high inflation data. Bitcoin retreated from its record high above $124,000 to around $118,800, triggering over $1 billion in leveraged position liquidations—the largest such event since early August.
While the Producer Price Index report dampened hopes for aggressive Federal Reserve rate cuts, analysts characterize the pullback as healthy profit-taking rather than a trend reversal. ethereum showed relative resilience with a modest 0.7% decline compared to XRP's 4.6% drop.
Institutional demand remains robust despite near-term risks from stretched valuations. TeraWulf's $3.7 billion AI data center deal and Coinbase's Deribit acquisition underscore continued sector maturation.
Aerodrome Finance (AERO) Defies Market Downturn with 15% Rally on Coinbase Base Network Integration
Aerodrome Finance's AERO token surged 15% this week following its integration with Coinbase's Base network, bucking the broader crypto market's 4% decline. The token now trades at $1.42, having breached key resistance at $1.12 and establishing new support at $1.32.
Despite the price action, underlying metrics reveal weakening momentum. Trading volume dropped 23% to $162.41 million during Thursday's 4% gain, creating a bearish divergence. Futures open interest fell 16% to $97 million, signaling reduced trader conviction in the rally's sustainability.
On-chain data shows accumulation by large holders as exchange reserves decline—a typically bullish signal. The token's ability to maintain gains amid market-wide selling pressure suggests strong fundamental support from the Base network integration.
