Victory Capital is entering the crypto market by partnering with American stock exchange Nasdaq and crypto-focused asset manager Hashdex.
In a statement, the investment management firm with $157.1 billion in assets under management (AUM) reveals that it will be the exclusive sponsor of private placement funds and other investment instruments based on the Nasdaq Crypto Index (NCI).
[adinserter block="1"]Nasdaq and Hashdex developed the NCI in response to the growing institutional interest in Bitcoin (BTC) and other cryptocurrencies. The rules-based index serves as a measure of the performance of the digital assets market and is designed to be readily trackable by investors.
Victory Capital notes that it plans to launch a private fund that will track the NCI. It will also offer private funds that track the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index.
Says Mannik Dhillon, president of VictoryShares and Solutions for Victory Capital,
“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.”
Victory Capital highlights that the private fund will only be available to accredited investors.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
[adinserter block="1"]
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Natalia80
