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The KiwiSaver Growth Strategy Fund, which had NZ$350 million (US$244 million) in assets at the end of December, first began investing in crypto last October.

New Zealand Funds Management Ltd. (NZ Funds)’s KiwiSaver growth fund has invested 5% of its money in bitcoin (BTC, +1.06%), according to a report by local news outlet Stuff.

The KiwiSaver Growth Strategy Fund, which had NZ$350 million (US$244 million) in assets at the end of December, first began investing in cryptocurrency in October 2020, according to a company product disclosure document.