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0 Billion Asset Manager Jumps Into Crypto Markets in Partnership With Nasdaq

$150 Billion Asset Manager Jumps Into Crypto Markets in Partnership With Nasdaq

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Source: Daily Hodle

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).

 

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.

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The post $150 Billion Asset Manager Jumps Into Crypto Markets in Partnership With Nasdaq appeared first on The Daily Hodl.

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Author: Daily Hodl Staff