Share this article
New Zealand Fund Manager Puts 5% of Retirement Plan's Assets Into Bitcoin: Report
“If you are happy to invest in gold, you can’t really discount bitcoin," says the fund's chief investment officer.
Updated Sep 14, 2021, 12:32 p.m. Published Mar 26, 2021, 10:39 a.m.
New Zealand Funds Management Ltd. (NZ Funds)'s KiwiSaver growth fund has invested 5% of its money in bitcoin, according to a report by local news outlet Stuff.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The KiwiSaver Growth Strategy Fund, which had NZ$350 million (US$244 million) in assets at the end of December, began investing in cryptocurrency in October, according to a company product disclosure document.
The fund's chief investment officer, James Grigor, told the outlet he expects competitors to follow suit over the next five years, adding, “If you are happy to invest in gold, you can’t really discount bitcoin.”
See also: Morgan Stanley Sees Cryptocurrencies on Path to Investable Asset Class
The fund falls under the auspices of the national KiwiSaver program founded by the New Zealand Labour party in 2007. The retirement savings scheme is similar to a 401(k) in the U.S. and Superannuation in Australia, which allows access to a user's savings only after he or she reaches a certain age.
The fund manager's move represents a drop in the bucket, compared with the $66.5 billion (US$46.3 billion) market for assets currently under management by providers throughout the nation, according to data from Morningstar.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Altcoins plunge as bitcoin's $85,000 test triggers $550 million in liquidations
Solana tumbled below $120 to its weakest price since April, while SUI, DOGE and ADA also fell sharply.
What to know:
- Bitcoin is teetering on the brink of falling below $85,000 level, accelerating declines in the crypto market.
- Altcoins such as SOL, Cardano, ADA, SUI and dogecoin led Thursday's drop.
- $550M in liquidations hit derivatives markets, but analysts said the pullback looks like orderly deleveraging rather than full-blown panic.
Top Stories
