New Zealand Fund Invests 5% in Bitcoin— CIO Says You ‘Can’t Really Discount B...
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,....
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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....
The KiwiSaver Growth Strategy fund, part of New Zealand’s retirement savings program, has allocated 5 percent of its money to bitcoin.
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....
Grayscale Investment’s Bitcoin Trust (GBTC) has dropped to a new low this week as the bitcoin fund tapped a record 35.18% low against bitcoin spot prices. GBTC’s discount to spot has been underwater for a total of 577 consecutive days.
GBTC Discount to NAV Widens by 35% — Fund Reaches an All-Time Low Against BTC Spot Price
The Grayscale Bitcoin Trust (OTCMKTS: GBTC) is the oldest, and one of the most popular, bitcoin (BTC) funds on the market today. However, in recent times GBTC has been suffering from a discount compared to BTC’s spot market values.....
Grayscale, one of the largest cryptocurrency fund managers, has declared it is trying to morph the bitcoin trust GBTC into an exchange-traded fund (ETF) to solve its price woes. The exchange rate is now at a 20% price discount compared to its bitcoin holdings, a fact that has many worried about the overall sustainability of their business model. Grayscale Hints at Becoming an ETF Grayscale, the biggest cryptocurrency fund manager in the world, has declared its Grayscale Bitcoin Trust (GBTC) is in the process to become an ETF to get rid of some of the problems it is facing.....