Crypto Update

ASIC blocks Holon unlisted crypto funds

The Australian Securities and Investments Commission (ASIC) has issued interim stop orders on Holon’s unlisted Bitcoin, Ethereum, and Filecoin funds after non-compliant target market determinations (TMDs). Holon launched the funds just a few months ago. Holon is now prevented from offering or distributing these funds to retail investors. The funds under examination are the Holon Bitcoin Fund, Holon Ethereum Fund and the Holon Filecoin Fund.

ASIC raised concerns regarding Holon’s product disclosure statement said assets in the fund could face a total loss of value, and ASIC said that Holon had not appropriately considered the features and risks of the funds when evaluating their target markets. The funds in question are not suited to the wide target market defined by Holon, ASIC said.

BTC Markets launching Avalanche on platform

BTC Markets has announced the addition of Avalance (AVAX) to its trading platform, available from 5 October 2022.

BGL integrates with Digital Surge to automate crypto trading data

Self-managed superannuation fund (SMSF) administrator BGL has announced that its Simple Fund 360 and Simple Invest 360 solutions are now integrated with Digital Surge to automate crypto trading data. This is the third cryptocurrency exchange to be added to the BGL system. Instead of a manual upload into BGL software, BGL clients can now receive daily crypto trading data and balances from Digital Surgey directly into Simple Fund 360 and Simple Invest 360.

Survey says quarter of super members want crypto options

A Swyftx Cryptocurrency survey has showed that 23 per cent of Australians surveyed said they’d like their superannuation fund to include cryptocurrency options. If the person surveyed already owned cryptocurrency, they were much more likely to agreed (66 per cent).