Holon Global Investments, a digital asset venture capital company, has unveiled three cryptocurrency funds. The funds will provide exposure to Bitcoin, Ether and Filecoin, and they will be created in collaboration with the Gemini cryptocurrency exchange.
Holon launched crypto unlisted funds
The three new crypto funds will give investors indirect exposure to Bitcoin (BTC), Ether (ETH), and Filecoin (FIL). The Holon Filecoin Fund is also the first retail-managed investment vehicle for crypto assets outside Bitcoin and Ether to be registered with the Australian Securities and Investment Commission (ASIC).
A report detailed that every fund will come with a management fee of 0.40% annually. This is 67% below the 1.25% management fee imposed on the first crypto ETFs launched in Australia. The expense of these new funds is capped at 0.4% annually.
The head of asset management at Holon, Rory Scott, commented on the development saying that it was not charging a high fee because the value being added was minimal. Holon’s Chief Executive, Heath Behncke, also said that the product had been reviewed by the ASIC for around one year to obtain the necessary approvals. The ASIC is the regulatory body overseeing financial assets and funds.
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During the review phase for the product, the cryptocurrency market witnessed a notable decline. Bearish sentiment has persisted for the most part of this year. However, Holon is optimistic that the sector will grow. He said there was a rise in the number of investors wanting to access the crypto market through a regulated traditional channel like a managed fund.
Holon partners with Gemini
Holon will be launching these funds through a partnership with Gemini. Behncke said that the launch would transform the cryptocurrency sector in Australia. Moreover, the funds have been created to involve the institutional grade custody offered by Gemini to provide market participants with well-price exposure.
The company noted that it believed in the potential of blockchain and crypto technology to transform the global economy. Investors in Australia have been struggling with the right way of regulating the digital sector.
This is not the first time that Holon and Gemini are collaborating. In August last year, the companies partnered to launch the Wholesale Filecoin Fund.
Gemini is one of the largest cryptocurrency exchanges. The exchange is led by the Winklevoss brothers. Gemini was recently registered as a Virtual Asset Service Provider (VASP) in Ireland. During the recent crypto winter, Gemini laid off around 68 of its workers as part of a cost-cutting effort.
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