Australia’s digital asset venture capital and fund supervisor, Holon gets its first unlisted crypto funds, bitcoin (BTC), ether (ETH), and filecoin (FIL) after a collaboration with Gemini, the crypto exchange.
As per reports, the funds will use a ‘retail managed investment’ scheme and will invest directly into BTC, ETH and FIL. The retail managed investment schemes include multiple investors contributing to get a share of interest and are looked after by a fund manager.
Holon received its financial services licence from the Australian Securities and Investments Commission (ASIC). The license allows the firm to run managed investment schemes for regular retail investors.
ASIC supervises financial services and funds such as Holons in order to protect the law and customers.
The funds will feature a $5,000 minimum (or $2,000 with a $200) per month savings plan and also offer daily unit pricing, daily redemption, and same-day cash settlement along with asset purchase.
Holon revealed that the funds are long-only, with no gearing and no trading.
As per Holon, the Holon Filecoin Fund is the first ASIC registered retail managed investment scheme for digital assets other than BTC and ETH.
The fund manager calls Filecoin’s native token FIL the “future of data storage”, which lets users build onto its infrastructure to detach themselves from a few firms entrusted with the world’s data.
Interestingly, Holon is also a data storing and custodian firm for the filecoin network, which has turned it into a service provider to huge organizations like NASA and Switzerland’s CERN.