Norway's sovereign wealth fund has significantly increased its indirect Bitcoin exposure. The world's largest fund's holdings in Bitcoin proxies have surged by 192% over the past year.

Unable to hold cryptocurrencies directly due to investment restrictions, the fund gains exposure through shares in companies like Coinbase and Strategy.

A broader trend is emerging among sovereign and state wealth funds. Due to legal mandates, managers are often limited to specific asset classes.

To invest in cryptocurrency, funds are turning to alternative routes like exchange-traded funds and companies that hold Bitcoin. The 'side door' approach allows them to participate in the crypto market while following regulations.

Kazakhstan's sovereign wealth fund also announced plans to convert some of its assets to crypto, showing a growing global trend towards integrating the asset into traditional financial portfolios.