What Ace Digital does

Ace Digital AS is a Norwegian Bitcoin platform company listed on Euronext Growth Oslo under ticker ACED (ISIN NO0013531616), founded in 2020 and operational at 1-10 employees with headquarters at Haakon VII's gate 1, Oslo. The company combines direct Bitcoin treasury holdings with an active derivatives-based risk management strategy executed primarily through Deribit options, designed to compound Bitcoin-denominated value over a full market cycle while protecting capital during severe drawdowns — the Ace Fund vehicle delivered +7.4% USD return versus Bitcoin's -38.8% USD drawdown between November 2025 and February 2026, with maximum drawdown limited to 0.6%.

The company operates through a platform-plus-subsidiaries architecture: Ace Advise AS provides strategic and operational advisory for businesses adopting Bitcoin treasury strategies (covering treasury design, analytics, custody, regulatory navigation, and stakeholder communication); Ace Invester AS is the venture capital arm investing across the Bitcoin ecosystem, with a Bitcoin mining pilot activated in February 2026 as its first venture investment; and Ace Funds AS, a registered Alternative Investment Fund (AIF) and Alternative Investment Fund Manager (AIFM) under Norway's Finanstilsynet, operates the Ace Fund. The K33 AB partnership provides institutional-grade trading and custody infrastructure, and K33's CEO sits on the advisory board.

Ace Digital's go-to-market combines public-market access for institutional and retail investors via Euronext Growth Oslo with direct enterprise advisory through Ace Advise; revenue is generated primarily through advisory fees, venture returns, and Ace Fund management/performance fees, while the balance sheet retains ~29.5% of NAV in Bitcoin under a zero-debt capital structure. As of mid-2026, the company had 348 shareholders, 125.8M outstanding shares, and a market capitalization of approximately $5.7M USD (56.6M NOK).

Name

Ace Digital

Legal name

Ace Digital AS

Website

https://acedigital.no

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Ace Digital AS is a Norwegian Bitcoin platform company listed on Euronext Growth Oslo (ticker ACED) that combines direct Bitcoin holdings with derivatives-based risk management to serve corporate treasuries and institutional investors, operating through advisory, venture, and fund-management subsidiaries.

Ownership category

akta.pro rank

Product category

Bitcoin Treasury Management

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Digital/Hybrid Robo-Wealth & Retirement Advisory (FSAEABAK)

Keywords

• Bitcoin treasury management
• Derivatives risk management
• Crypto advisory services
• Bitcoin venture investing
• Alternative investment funds

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Distribution channels2 records

Marketing channels1 record

Core offering

Ace Digital AS is a Norwegian Bitcoin platform company that holds Bitcoin as a core treasury asset and actively manages risk through systematic options/derivatives strategies. It operates through subsidiaries (Ace Advise, Ace Invester, Ace Funds) that provide Bitcoin advisory services for corporate treasuries, venture investment in Bitcoin ecosystem companies, and a registered hedge fund (Ace Fund) offering institutional exposure to Bitcoin treasury companies.

Product overview

Ace Digital is a Norwegian Bitcoin platform company listed on Euronext Growth Oslo (ticker: ACED) that operates as a platform-plus-subsidiaries architecture. The core product is the Bitcoin Treasury Strategy, which combines direct Bitcoin holdings with active derivatives risk management. The company operates three subsidiary/affiliated entities: Ace Advise (Bitcoin advisory services for businesses), Ace Invester (venture capital for Bitcoin ecosystem startups), and Ace Fund (an affiliated hedge fund focused on Bitcoin treasury companies). Together these complementary businesses generate Bitcoin-denominated value through different mechanisms.

Differentiator

Problem solved

Functional benefit

Brands

• Ace Advise: Strategic and operational advisory services for businesses adopting Bitcoin treasury strategies.
• Ace Invester
• Ace Funds

Products and services

• Bitcoin Treasury Strategy
• Ace Advise
• Ace Invester
• Ace Fund

Quantifiable outcome

• Ace Fund delivered +7.4% return (USD) while Bitcoin declined 38.8% (USD), with maximum drawdown limited to 0.6% during Nov 2025 - Feb 2026

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• K33 ABcoreStrategic or Co-development Partner · 16 September 2025K33 has entered into a strategic partnership with Ace Digital to advance Bitcoin adoption in corporate treasury. K33 provides institutional-grade trading and custody services to support Ace Digital's treasury operations. Both companies will explore further collaboration in the broader Bitcoin financial ecosystem. K33 CEO Torbjørn Bull Jenssen has also joined Ace Digital's advisory board as part of the partnership.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• MicroStrategy (Strategy): The original and largest publicly listed corporate Bitcoin treasury company (NASDAQ: MSTR). Ace Digital follows the same Bitcoin-as-treasury-asset thesis and combines direct holdings with capital markets expertise, making it the template peer for any Bitcoin treasury vehicle.
• K33 AB: Nordic-headquartered crypto financial services group offering trading, custody, and research. K33 is Ace Digital's strategic infrastructure partner (CEO Torbjørn Bull Jenssen sits on Ace's advisory board), and both target institutional Nordic clients for Bitcoin exposure.
• Semler Scientific: Small-cap U.S. medical technology company that pivoted to a Bitcoin treasury strategy, similar in profile to Ace Digital as a micro-cap corporate Bitcoin holder. Both companies combine operating businesses with significant direct BTC balance sheet exposure.
• Metaplanet: Tokyo-listed Japanese public company pursuing an aggressive Bitcoin treasury accumulation strategy. Comparable to Ace Digital as a publicly listed Bitcoin treasury vehicle outside the U.S., targeting corporate and institutional adoption in its home market.
• Twenty One Capital: Bitcoin-native treasury company formed in 2025 by Tether, Cantor Fitzgerald, and SoftBank to acquire and hold Bitcoin. Direct peer as a purpose-built listed Bitcoin treasury vehicle competing for institutional capital.

Broad incumbents

• CoinShares International: Leading European crypto ETP/asset manager listed on Nasdaq Stockholm, offering regulated crypto investment products across the Nordics. Comparable as a Nordic-headquartered publicly listed crypto investment platform, though at significantly larger scale.
• Block Inc. (formerly Square): Public fintech (NYSE: XYZ) with significant corporate Bitcoin holdings on its balance sheet and a Bitcoin-focused product ecosystem (Cash App, Bitkey). Comparable as a publicly listed company combining fintech operations with Bitcoin treasury exposure.
• Coinbase Global: Largest publicly listed U.S. crypto exchange (NASDAQ: COIN) offering trading, custody, staking, and institutional services. Comparable as a regulated publicly traded platform serving institutional and corporate clients seeking Bitcoin exposure.

Emerging players

• MARA Holdings: Public Bitcoin mining company (NASDAQ: MARA) with significant Bitcoin holdings on its balance sheet. Comparable as a publicly listed company with both operational Bitcoin exposure (mining) and treasury holdings, though at much larger scale.
• Purpose Bitcoin ETF: Canadian-listed Bitcoin ETF providing regulated Bitcoin exposure for institutional and retail investors. Comparable as a regulated, publicly traded Bitcoin investment vehicle, though structured as a fund rather than an operating company.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ace Digital