"I was thinking about all the funny things my stepdad did," he said. "The butterflies remind me of angels ... angels with wings."
Tyler was overwhelmed by the emotions of the day, but thought his dad would have been happy with him.
Mr Bishop's partner Amber Lucas said the day had been hellish.
"Today was the last day of the firsts. Bish was my best friend and I feel lost without him. I miss him often," she said.
"Today with the kids the butterflies were a reminder there is new life and hope. Bish will never be forgotten, but we can ... honour his memory and live life as he would have."
In total 185 monarchs were released by eight quake-affected children.
Governor General Sir Jerry Mateparae said each butterfly represented one person who died, "a soul departed".
He likened the rebuild of Christchurch to the lifecycle of a butterfly, growing from a cocoon to a vibrant and strong creature.
Mr Bishop's younger brother Ben Bishop, a firefighter, spoke for the first time about his own quake experience. He was in his car in central Christchurch when the quake hit.
He abandoned the car and ran into the CBD to see if anyone needed help. He came across a building that had been destroyed and spent about four hours there helping rescuers.
"I had no idea at the time, but it was the CTV building. I had no idea my brother was trapped in there."