Investment company Victory Capital Management has utilized to the United States Securities and Exchange Commission (SEC) for permission to generate a cryptocurrency ETF.
In an S-one application filed August three with the SEC, Victory stated it intends to carry on listing an ETF to track the Nasdaq cryptocurrency index. This is component of an agreement with Brazilian fund manager Hashdex. This index incorporates eight cryptocurrencies which are:
- Bitcoin (BTC)
- Ether (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Chain website link (Hyperlink)
- Stellar Lumen (XLM)
- Filecoin (FIL)
- Uniswap (UNI)
Mannik Dhillon, president of VictoryShares, an ETF supplier to Victory Capital, stated the following:
“A potential future offering of ETFs would give our clients affordable exposure to more cryptocurrencies by introducing a new asset class to their portfolio.”
At existing, the SEC has not accepted any crypto ETFs in the United States. The waiting record of organizations is continually lengthy with huge names like VanEck, Valkyrie Digital Assets, Fidelity Investments, Goldman Sachs …
However, SEC Chairman Gary Gensler just lately hinted at the approval of an ETF. More especially, Gary Gensler also just lately launched a video to share the SEC’s function in the cryptocurrency business. Readers can refer to the video in detail in the following post:
See a lot more: SEC President Gary Gensler explains the SEC’s function in the cryptocurrency business
On Victory’s side, in June of this yr, the organization announced that it would consider actions to offer you traders in the United States publicity to cryptocurrencies. The organization stated it will set up a personal fund, now regarded as the Victory Hashdex Nasdaq Cryptocurrency Index Fund.
This is a fund for accredited traders who observe the index and personal money which will observe the Nasdaq Bitcoin Price Index and the Ethereum Nasdaq Price Index. As of the finish of June thirty, the Victory Capital fund recorded assets below management really worth more than $ 161 billion.
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