New Zealand Retirement Fund Invests In Bitcoin
The KiwiSaver Growth Strategy fund, part of New Zealand’s retirement savings program, has allocated 5 percent of its money to bitcoin.The KiwiSaver Growth Strategy fund, which is part of New Zealand’s national KiwiSaver program, has reportedly invested 5 percent of its funds into bitcoin.The program is meant to be used as a retirement savings vehicle for New Zealand’s citizens, with tax incentives and age requirements similar to a 401(k) account in the U.S. The KiwiSaver Growth Strategy fund has about $244 million ($350 million New Zealand dollars) in total investments, according to local....
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A New Zealand hedge fund, NZ Funds Management, which had $350 million worth of assets under management at the end of December 2020, says five percent of its money is invested in bitcoin. According to the firm’s CIO James Grigor, bitcoin is also set to be featured in more of its Kiwisaver investment schemes within the next five years. ‘You Cannot Discount Bitcoin’ As explained in a local report, the firm’s bitcoin acquisition only became possible in October 2020 when an amendment was made to its offer documents. Meanwhile, in justifying the acquisition,....
Institutional uptake of BTC is on the rise. KiwiSaver of New Zealand appears to have built up exposure to Bitcoin in October 2020. KiwiSaver Growth Strategy, a $350 million retirement plan operated by New Zealand Wealth Funds Management, has reportedly allocated 5% of its assets to Bitcoin (BTC), underscoring the steady stream of institutional investors entering the digital asset space.Bitcoin’s striking similarities to gold were cited as one of the biggest reasons for entering the trade, according to James Grigor, the chief investment officer at New Zealand Funds Management.“If you are....
New Zealand-based venture capital firm Global From Day 1 (GD1) recently said it had launched a $5 million Web3 and crypto-focused venture capital fund to back local startups. The fund will invest in pre-seed to Series A companies across decentralized finance (defi), decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and Web3.
GD1’s Web3 and Crypto Strategy
In a boost for New Zealand-based startups and local investors, GD1 has launched a $5 million Web3 and crypto-focused venture capital fund. The fund, known as GD1 Crypto Fund 1, will be led by....
Looks like they completely reversed their decision. Bitcoin continues to gain legitimacy as prominent financial services corporation Fidelity partners with SecondMarket's Bitcoin Investment Trust to allow its clients to put Bitcoins in IRAs. The Bitcoin Investment Trust launched a few weeks ago in late September, and invests exclusively in Bitcoin. Individual Retirement Accounts (IRAs) provide tax advantages for retirement savings. Barry Silbert, CEO of SecondMarket, says, "If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA." This is simply....
Binance has officially launched a cryptocurrency exchange in New Zealand after successfully registering with the country’s financial regulator. “We see significant value in having a serious New Zealand presence,” said Binance CEO Changpeng Zhao (CZ).
Binance Launches Crypto Trading Platform in New Zealand
Global crypto exchange Binance announced Friday that it has successfully registered as a financial service provider with the New Zealand Ministry of Business, Innovation and Employment (MBIE). The crypto exchange also announced the official launch of....