An asset administration agency with practically $160 billion in property beneath administration, Victory Capital, has introduced that it’s getting into the cryptocurrency market. The agency has established unique agreements with Nasdaq and asset supervisor Hashdex.
Asset Administration Agency Coming into Crypto Market
Victory Capital Holdings Inc. (Nasdaq: VCTR) unveiled its plans to enter the cryptocurrency market Wednesday. Victory Capital is a diversified international asset administration agency with $157.1 billion in property beneath administration as of April 30. The agency supplies specialised funding methods to establishments, intermediaries, retirement platforms, and particular person traders.
The corporate mentioned that its wholly owned funding adviser, Victory Capital Administration Inc., “has established unique agreements” with Nasdaq and asset supervisor Hashdex Ltd. upfront of plans to enter the cryptocurrency market, including:
Victory Capital would be the unique sponsor of personal placement funds and different autos for U.S. traders, primarily based on the Nasdaq Crypto Index (NCI), a multi-coin crypto index co-developed by Nasdaq and Hashdex.
Victory Capital plans to launch a personal fund for accredited traders that may observe the NCI. It is going to additionally supply personal funds that observe the Nasdaq Bitcoin Reference Value Index and the Nasdaq Ethereum Value Index.
Sean Wasserman, vp and international head of Nasdaq’s Index and Advisor Options, commented:
We’ve seen a creating maturity within the cryptocurrency ecosystem. Our work with business companions reminiscent of Victory Capital and Hashdex furthers the innovation within the digital asset house.
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