ASIC Suspends Retail Services of Three Holon Investments Cryptocurrency Funds

According to a statement from the Australian Securities and Investments Commission (ASIC), ASIC has suspended the retail services of three cryptocurrency funds owned by Holon Investments for 21 days on the grounds that the target market does not comply with the regulations. ASIC believes that Holon Investments should not open trading in such "extremely risky and speculative" assets to retail investors, and that the suspension aims to "protect retail investors from investing in investments that may not be suitable for their financial objectives, circumstances or needs." The impact of the fund". ASIC said the fund could be terminated from trading if the regulator's concerns were not adequately addressed. Foresight News previously reported that fund management firm and Web 3 data storage provider Holon launched an unlisted retail BTC, ETH and FIL fund. The funds will invest directly in BTC, ETH and FIL using traditional investment vehicles and retail managed investment schemes. Gemini will act as custodian for the three funds.