Victory Capital investment fund with assets of USD 157 billion plans to enter the cryptocurrency market

The company aims to allow investors in the US market to gain exposure to crypto assets through a private fund that tracks the Nasdaq Cryptocurrency Index.

Investment company Victory Capital Management announced they will begin to build a process for investors in the US to have access to the cryptocurrency market.

In a June 9 announcement, Victory Capital said it will be the exclusive backer of a “privately issued fund” based on the Nasdaq Cryptocurrency Index, or NCI, an index developed Developed by Nasdaq and Brazilian crypto asset manager Hashdex. The company said it plans to launch a separate fund for accredited investors tracking the NCI and private funds that will track the Nasdaq Bitcoin and Ethereum Reference Price Index.

“Cryptocurrency is a viable asset class for portfolio diversification,” said Mannik Dhillon, president of VictoryShares, Victory Capital’s ETF provider. By using a portfolio designed to track NCI, investors can achieve high returns, gaining access to a wide range of digital assets as this market continues to grow and mature. “

Hashdex partnered with Nasdaq in September 2020 to launch a Bitcoin exchange-traded fund in Bermuda and received product approval from the Bermuda Stock Exchange in February. The company’s Nasdaq crypto index includes eight coins: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Chainlink’s LINK, Stellar’s Lumen (XLM), Filecoin ( FIL) and Uniswap’s UNI.

As of April 30, Victory Capital managed $157 billion in assets. In contrast, digital asset manager Grayscale reported on Wednesday that it has $30.9 billion in assets under management for its crypto investments.

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