Holon Partners With Gemini To Launch Australia’s First Unlisted Retail Crypto Funds

Holon has partnered with Gemini to launch Australian unlisted retail Bitcoin (BTC), Ethereum (ETH) and Filecoin (FIL) funds.

Local investors and financial advisors will now have regulated access to the developing blockchain and cryptocurrency industries thanks to the launch.

A company-issued statement referred to the 0.4% management charge and 0.4% capped fund as the “lowest in Australia” fees.

The Holon Filecoin Fund is the first retail managed investment scheme for digital assets other than Bitcoin and Ethereum to be registered with ASIC, according to the announcement.

The funds will use a traditional investment vehicle, a retail managed investment scheme, and invest directly into BTC, ETH and FIL.

Holon’s managing director Heath Behncke said the launch is a landmark for the Australian cryptocurrency market.

“We are huge believers in the potential for blockchain and cryptocurrency to revolutionise key areas of the global and Australian economy, including finance and data storage. But Australian investors, financial investors, and financial advisers have struggled to find regulated ways to invest”, he said.

Holon funds have been constructed to include Gemini’s institutional grade custody

Behncke noted that in order to offer investors and financial advisors access to attractively priced exposure, the Holon funds have been constructed to include Gemini’s institutional grade custody.

Over time, he hopes to have platforms with the funds available that would allow advisers to distribute client assets just like they would for any other investment in a portfolio.

Gemini will supply the three funds with institutional-grade crypto storage and market-leading security, according to the release.

According to New York Banking Law, Gemini is a certified fiduciary custodian and holds a license from the New York State Department of Financial Services to custody digital assets.

Similar to a traditional financial institution, it is subject to regular audits, capital reserve, cybersecurity, and compliance rules.

The cooperation with Holon, according to Gemini’s senior principal of business development for Asia Pacific Alex Philips, is a superb illustration of the company’s dedication to enhancing crypto’s accessibility worldwide.

“As interest in cryptocurrencies surge, we will continue to build strategic partnerships that enable investors to safely engage with the digital economy through Gemini’s institutional grade custody,” he explained.

The funds offer access with daily unit pricing, daily redemption, and same-day cash settlement/asset acquisition for a minimum investment of $5000 or $2000 with a $200 per month savings plan. With no trading or gearing, the funds exclusively invest in long positions.

The crucial aspect of the custody solution, according to Holon’s head of asset management Rory Scott, is that it gives financial advisors a scalable method for allocating assets to the industry.

“The direct asset model is very difficult to implement because of the challenges associated with custody, professional indemnity insurance and approved product lists. A regulated managed investment scheme removes this complexity,” he said.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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