Gemini to Safeguard Australia’s First Unlisted Crypto Fund

Gemini to Safeguard Australia’s First Unlisted Crypto Fund
  • The recent tie-up will introduce Australian unlisted retail BTC, ETH, and FIL funds. 
  • Gemini would manage the three funds and will offer custodial services.

The Sydney-based venture capital firm and Web 3.0 data storage provider, Holon Global Investments, recently announced a collaboration with the US cryptocurrency exchange platform, Gemini. According to the reports, the latest partnership of both firms will allow Australia to receive its first unlisted retail Bitcoin (BTC), Ethereum (ETH), and Filecoin (FIL) funds.

Gemini’s spokesman, Alex Philips stated:

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

As per release, the funds would invest directly in BTC, ETH, and FIL via a conventional investment vehicle known as a ‘retail managed investment scheme’. Multiple investors contribute to managed investment schemes, which are normally overseen by a fund manager, in exchange for receiving a share of interest. 

Will Crypto Climb Up in Australia? 

In order to uphold the law and safeguard consumers, the Australian Securities and Investments Commission (ASIC), the nation’s securities regulator, monitors business and financial services as well as funds like Holon’s.

At the same time, the managing director of Holon, Heath Behncke, expressed the new collaboration as a turning point for the Australian cryptocurrency market. He pointed out that the firm believes in blockchain technology and cryptocurrencies. This technology will revolutionize several important sectors of the Australian and global economies, including finance and data storage. However, it has been difficult for Australian investors, financial investors, and financial advisers to discover regulated investment options, as per Behncke. 

The Gemini exchange and Holon Global Investments already partnered in the previous year to introduce a wholesale Filecoin (FIL) fund. 

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