Australian Asset Manager 'Holan' Launches Several Low Cost Crypto Funds
Categories: Crypto News US
Australian Asset Manager 'Holan' Launches Several Low Cost Crypto Funds
Low-Cost Alternative for Retail Investors
Holon, an asset manager who identifies himself as a Web3 investor, has launched three unlisted funds that provide access to Bitcoin, Ethereum and Filecoin respectively. According to the investment firm, the fund is currently the only managed investment scheme for digital assets available to retail investors that is registered with the Australian Securities and Investments Commission (ASIC).
He has a minimum investment of A$5,000, or A$2,000 with a savings plan of A$200 per month. Furthermore, Holon suggests that all three funds hold only long positions, as there is no gearing or trading. Notably, the fund will incur a management fee of 0.4 percent, which is significantly lower than the 1.25 percent fee charged by the initial group of approved Australian crypto ETFs.
Given its credentials and experience in operating in a challenging regulatory environment, it will act as the custodian for all three funds, according to a statement from Gemini. But this isn't the first time Holon has teamed up with Geminis. Last year, it partnered with the Winklevoss-led organization after launching its Filecoin wholesale fund.
It is interesting to note that when the Commonwealth Bank of Australia announced its foray into crypto, which has since been postponed, it also relied on Gemini for custodial services. At present, it is unclear whether there is only a lack of reliable local institutional-grade custodians, or whether other factors, such as regulations, are at play.