Norwegian Sovereign Wealth Fund Indirectly Takes an Ethereum Position by Purchasing BitMine Shares!

Government Pension Fund Global, one of the world’s largest sovereign wealth funds, has announced a significant stake in BitMine Immersion Technologies, a company known for its Ethereum-focused investments. According to the fund’s latest regulatory filing, it holds approximately 6.15 million shares of BitMine, with a total value of approximately $81.87 million.

This investment is noteworthy because the Norwegian Sovereign Wealth Fund is gaining indirect exposure to $ETH through a publicly traded company instead of directly purchasing Ethereum. The fact that one of the world’s largest investment funds avoids direct investment in crypto assets while focusing on companies with large amounts of digital assets on their balance sheets is being closely watched by the market.

The released documents did not provide any information on when the shares were purchased or what the average cost of the fund was. However, the fact that BitMine is not included in the fund’s 2025 year-end portfolio report suggests that the investment was made in recent months.

BitMine Immersion Technologies has recently become one of the most talked-about companies in the cryptocurrency sector with its Ethereum accumulation strategy. According to a statement released on August 9th, the company holds approximately 5.805 million $ETH in its reserves. This amount represents a significant portion of the circulating Ethereum supply.

The company also reported that it has included approximately 5.067 million of its $ETH holdings in the staking process. Thus, BitMine not only holds Ethereum but also earns staking revenue from network validation activities.

Market experts note that the Norwegian Sovereign Wealth Fund’s investment in BitMine further indicates a continued, albeit indirect, increase in the interest of traditional financial institutions in the Ethereum and digital asset ecosystem. Such investments are considered a significant indicator of institutional adoption.

*This is not investment advice.