Cryptocurrency News

$160 Billion Asset Manager Is Entering The Crypto Market In Collaboration With Nasdaq – Bitcoin News

Victory Capital, an asset management firm with approximately $160 billion in assets under management, has announced that it is entering the cryptocurrency market. The firm has exclusive agreements with Nasdaq and asset manager Hashdex.

Asset Management Firm Entering the Crypto Market

Victory Capital Holdings Inc. (Nasdaq: VCTR) on Wednesday unveiled its plans to enter the cryptocurrency market. Victory Capital is a diversified global asset management firm with $157.1 billion in assets under management as of April 30. The firm offers specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors.

The company said that its wholly-owned investment advisor, Victory Capital Management Inc., has “exclusive agreements” with Nasdaq and asset manager Hashdex Ltd.

Based on the Nasdaq Crypto Index (NCI), a multi-coin crypto index co-developed by Nasdaq and Hashdex, Victory Capital will be the exclusive sponsor of private placement funds and other vehicles for US investors.

Victory Capital plans to launch a private fund for accredited investors that will track NCIs. It will also offer private funds that track the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index.

Sean Wasserman, Vice President and Global Head of Index & Advisor Solutions, Nasdaq, commented:

We have seen a developing maturity in the cryptocurrency ecosystem. Our work with industry partners such as Victory Capital and HashDEX continues to drive innovation in the digital asset space.

What do you think about Victory Capital’s entry into the crypto market in collaboration with Nasdaq? Let us know in the comments section below.

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