$157.1 Billion Asset Manager Victory Capital To Enter The Cryptocurrency Market
Victory Capital is preparing to launch private funds that will track Nasdaq’s crypto indices.
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San Antonio-based asset management firm Victory Capital has announced its plan to enter the cryptocurrency market. In a June 9 press release, the money manager said that he will launch a private fund for sophisticated investors that will leverage the Nasdaq Crypto Index (NCI).
Developed by Brazilian asset manager Hashdex and US stock exchange Nasdaq, the index tracks the performance of Bitcoin, Ethereum and hybrid altcoins (Bitcoin Cash, Stellar and Chainlink), which have a combined weight of about five percent.
In addition, the firm will offer two separate private funds that will separately track the Bitcoin and Ethereum indices. Hashdex launched the world’s first crypto index exchange-traded fund (ETF) in February.
Mannik Dhillon, head of VictoryShares and Solutions for Victory Capital, claims that the cryptocurrency would be a good fit for the firm’s “well-diversified” portfolio:
“We continually strive to provide our clients with the forward-thinking options they want, and we believe cryptocurrency is a viable asset class that can be part of a well-diversified portfolio.”
Victory Capital offers its investment strategies to both institutional and individual investors.