The global investment management company, Victory Capital, has recently announced that it will soon venture into the cryptocurrency space.
In a press release published today, Victory Capital revealed that it intends to roll out a private fund for its investors, leveraging the Nasdaq Crypto Index (NCI).
The NCI is a multi-coin cryptocurrency index created by Nasdaq and the leading crypto-focused investment firm, Hashdex, that is used to keep track of the performance of Bitcoin, Ethereum, and several other altcoins.
Speaking on this, Mannik Dhillon, President of VictoryShares and Solutions for Victory Capital, said,
“We continually strive to provide our clients with the forward-thinking choices they want and believe cryptocurrency is a viable asset class that can be part of a well-diversified portfolio. By investing in a portfolio designed to track the NCI, investors can seek returns that align with the cryptocurrency market in a diversified manner, gaining exposure to multiple digital assets as this market continues to evolve and mature. We are actively considering other vehicles and wrappers to bring these capabilities to a broader set of investors.”
Sean Wasserman, Vice President, Global Head of Index and Advisor Solutions at Nasdaq added,
” We have seen a developing maturity in the cryptocurrency ecosystem. Our work with industry partners such as Victory Capital and Hashdex furthers the innovation in the digital asset space.”
The multi-billion-dollar firm also noted that it will launch two additional private funds to separately track the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index.
Victory Capital added that Hashdex will ensure the success of these proposed investment products by providing its expertise in trading and asset management.
Hashdex’s CEO, Marcelo Sampaio said,
” We wanted an institutional-grade index strategy that would allow us to own beta in the crypto asset class. We created a dynamic index strategy that enables non-U.S. investors to make allocations to the asset class, rather than trying to pick winners. We are thrilled to partner with Victory Capital and Nasdaq to bring our investment capabilities to the U.S. market in the future.”
Bitcoin and the entire crypto industry are gaining massive interest in recent months. Today, bitcoin was adopted as an official national currency in the Central American country of El Salvador.
