About the Fund
The Bitcoin ETF PIE Fund aims to provide Kiwi investors with a simple way to get exposure to the performance of bitcoin in a simple, smart, and trusted way. The Fund provides the administration and tax benefits associated with being a PIE, including tax being capped at a maximum of 28%.
The Bitcoin ETF PIE Fund invests in US and Canadian exchange traded funds (commonly called ETFs) which in turn invest in bitcoin. This enables the Bitcoin ETF PIE Fund to be taxed in accordance with the Fair Dividend Rate tax regime, where tax is capped at 1.4% per annum for people on the top 28% PIR tax rate (being 28% of 5%). Being a multi-rate PIE also ensures people on lower PIR rates are taxed at their correct tax rate.
The Bitcoin ETF PIE Fund was established in 2021
With over $25 million of assets today, the Bitcoin ETF PIE Fund was established in 2021. It was previously called the Vault International Bitcoin Fund, with this name being changed in May 2025.
The investment manager of the Fund is Raise Investments Limited, which is registered on the Financial Service Providers Register to provide investment manager services. Investors can have the confidence and peace of mind that they are investing through a New Zealand owned and operated company.
The Bitcoin ETF PIE Fund is a registered regulated offer in New Zealand with the disclosure material being available on this website, or from the issuer and manager FundRock, or on the Disclose Register.
Accessing the Fund
You can access the Bitcoin ETF PIE Fund through your investment adviser (if they are unable to access the Fund, tell them to contact us).
The Fund is also available through InvestNow which is an online investment platform based in New Zealand that offers Kiwi investors the option to invest in KiwiSaver, managed funds, and term deposits from a wide range of fund managers and banks.
More about Raise Investments Limited
Raise Investments Limited (Raise) is a New Zealand based investment management business. Raise is responsible for the investment management and distribution of the Bitcoin ETF PIE Fund.
Raise is owned by the family interests of Anthony Edmonds. Anthony was the Founder of Implemented Investment Solutions Limited (now FundRock NZ Limited) and InvestNow. He sold these businesses to Apex Group in 2022, which is a global investment administration business.
Anthony was instrumental in the initial design and launch of the Bitcoin ETF PIE Fund, with the focus of this being on enabling Kiwi investors to get exposure to bitcoin within a regulated fund that also provided tax benefits associated with being a PIE.
The Raise Investment Funds scheme is a registered managed investment scheme, established in 2021 (originally called the Vault Digital Funds). FundRock NZ Limited is the issuer and manager of the Raise Investment Funds scheme. The Bitcoin ETF PIE Fund, a fund established within the Raise Investment Funds scheme, was launched in 2021. The name of the Fund and Scheme changed in May 2025 (previously the Fund was called the Vault International Bitcoin Fund). Raise Investments Limited is the scheme’s Investment Manager and lead distributor and has partnered with InvestNow to distribute funds within the scheme.
We have partnered with some of New Zealand’s best fund service providers to able Kiwi investors to get exposure to the performance of bitcoin, within a tax-effective regulated PIE fund.