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What is the Bitcoin ETF PIE Fund?
The Bitcoin ETF PIE Fund (the Fund) is a PIE fund based in New Zealand. The Fund lets investors get exposure to the performance of bitcoin within a PIE fund, which will be taxed according to the Fair Dividend Rate (FDR) method. This means the maximum tax that someone on a PIR of 28% pays is 1.4% per annum. In contrast, a direct investment in bitcoin typically attracts capital gains tax on realised capital gains, and will be taxed at the investor's marginal tax rate which could be as high as 39%.
The Bitcoin ETF PIE Fund invests in selected offshore listed bitcoin funds which are Exchange Traded Funds (ETFs) which in turn invest in bitcoin itself. Raise Investments Limited makes investment decisions based on 3 main objectives, including closely tracking the price of bitcoin, managing fees, and providing further diversification by investing in multiple offshore funds.
Why people should consider investing in the Bitcoin ETF PIE Fund
Investors receive the following benefits by gaining exposure to bitcoin through the Bitcoin ETF PIE Fund.
Quick, easy and simple way to invest in bitcoin
Make your investment through trusted NZ platforms like InvestNow or your investment adviser.
Investing through the Bitcoin ETF PIE Fund removes the complexity typically associated with investing directly in bitcoin. There's no need to use a digital wallet, or do a tax return reflecting that PIE is a final tax. So less administration hassles all round!
If your adviser is unable to access the Fund, tell them to contact us.
Investors in the Bitcoin ETF PIE Fund pay tax using FDR method. In contrast, investors holding bitcoin directly typically pay tax on their total return including realised capital gains
The Fund is taxed under the Fair Dividend Rate (FDR) methodology, meaning it is not subject to any capital gains tax. Under this method the taxable income is set at 5% per annum, meaning the maximum annual tax that someone on a 28% PIR rate pays is 1.4% per annum. In contrast, a direct investment in bitcoin typically attracts capital gains tax on the full return including all realised gains, and will be taxed at the investor's marginal tax rate which could be as high as 39%.
Taxed as a PIE fund
As a PIE fund, tax is capped at a maximum of 28% on a 5% "deemed dividend" in accordance with the Fair Dividend Rate (FDR) methodology. This equates to an effective maximum total tax of 1.4% per annum for investors on a 28% PIR (being 5% of income multiplied by the 28% PIR tax rate). Investors on lower tax rates will pay less tax, as this will be based on their own lower PIR tax rate.
Trusted and regulated
The Bitcoin ETF PIE Fund is a registered managed investment fund in New Zealand. The Fund only invests in regulated listed overseas funds and ETFs that hold their underlying bitcoin assets in cold storage with institutional grade security. The assets of the Bitcoin ETF PIE Fund are held by a regulated NZ custodian.
Create an account at InvestNow to start investing in the Bitcoin ETF PIE Fund or talk to your adviser
What is InvestNow?
InvestNow is a platform for Kiwis to access a variety of KiwiSaver, managed fund and term deposit investment options through an online portal. There are over 150 funds from more than 20 fund managers on InvestNow, including the Bitcoin ETF PIE Fund
Complete your application to join InvestNow and start buying the Bitcoin ETF PIE Fund
By completing your online InvestNow application, you can start investing in the return from bitcoin in a simple, trusted and smart way with the Bitcoin ETF PIE Fund.
Bitcoin PIE ETF PIE Fund (the Fund)
The Bitcoin ETF PIE Fund (the Fund) is the first fund to be launched under the Raise Investment Funds registered scheme. The Fund is a New Zealand-based Portfolio Investment Entity (PIE) fund that provides investors with exposure to offshore listed bitcoin managed funds and ETFs, taxed under the FDR methodology.
FundRock NZ Limited (FundRock NZ) is the issuer and manager of the Fund. FundRock is licenced as a "manager of a registered scheme" under the Financial Markets Conduct Act 2013. Raise Investments Limited is the investment manager of the Bitcoin ETF PIE Fund.
The Product Disclosure Statement ("PDS"), Other Material Information ("OMI"), and Statement of Investment Policy and Objectives ("SIPO") are available below or from FundRock New Zealand | FundRock, or from https://disclose-register.companiesoffice.govt.nz/
What people say about the Bitcoin ETF PIE Fund
“My main concern with investing in bitcoin has been the complexity of storage. I understand leaving bitcoin on an exchange is not safe, but I don’t want to store it myself and end up losing the passwords. Buying a fund to get the same bitcoin exposure without the effort certainly works for me.”
M
"This product is great. It really changed my mind about investing in bitcoin. I was concerned and confused about having to store bitcoin myself. But this fund takes away all that hassle. It also has the added benefit of being more tax efficient."
Anon
“I’m a relative beginner in terms of investing and definitely no expert when it comes to looking after crypto. I had some fear around the security of my investment, so the thought of handing over responsibility for this to an experienced fund manager made me feel much more relaxed. The tax benefits are a big incentive and I’m looking forward to seeing what the future holds!”
J
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If you have a question or a contact request, please read our Frequently Asked Questions first. The majority of emails we receive are questions that have already been answered there.
General Enquiries
contact@raiseinvestments.co.nz
Our support hours are 9am to 5pm, Monday to Friday, and we'll do our best to reply as soon as we can. Note that responses may be delayed during busy times.