Holon x Gemini: Australia’s First Unlisted BTC, ETH, and FIL Fund

Paigambar Mohan Raj
Source: Holon Investments

Asset manager and Web 3.0 data storage provider, Holon has entered into a partnership with Gemini to give Australia its first unlisted retail Bitcoin (BTC), Ethereum (ETH), and Filecoin (FIL) funds. 

The partnership will utilize Gemini to provide custody solutions for all three funds.

The three funds will use what is locally known as a “managed investment scheme.” The investment vehicle will allow the direct purchase of BTC, ETH, and FIL. Multiple participants contribute to managed investment schemes and receive a share of the interest. Such funds are usually overseen by a fund manager.

Alex Philips, Gemini’s senior principal of Business Development Asia Pacific, said

“Our partnership with Holon is a great example of Gemini’s commitment to increasing the accessibility of crypto across the globe.”

Holon and Gemini changing the game in Australia?

This is not the first time Holon and Gemini have entered into a partnership. In August 2021, the two firms collaborated to launch a wholesale Filecoin (FIL) fund. The fund was designed to purchase FIL and lend it to Holon Global Innovations, a subsidiary of Holon Global Investments.

In addition, they intended to utilize this as collateral for the creation of a decentralized cloud data storage company. Moreover, the Holon Filecoin Fund is the first retail-managed investment program for digital assets outside of Bitcoin and Ethereum to be registered with ASIC.

The Australian Securities and Investments Commission is the watchdog for the country’s financial services. This includes Holon’s crypto funds. Australia is quickly turning into a hotspot for regulated cryptocurrency investment plans. The nation saw the debut of its first spot Bitcoin (BTC) and Ethereum (ETH) ETFs (exchange-traded funds) earlier this year – the 21Shares Bitcoin ETF (EBTC) and the ETFS 21Shares Ethereum ETF (EETH).

However, activity via these investment vehicles has been lackluster. The funds made their debut at a time when the markets were on a downturn. Which may have played a hand in their lukewarm performances.

Nonetheless, Australia’s approach is currently leading the way for regulated crypto funds. The US is still waiting on its first stop Bitcoin (BTC) ETF. Regardless, the US has approved a futures-based crypto ETF.