Victory Capital files SEC application for crypto ETF

August 4, 2021 Coin Telegraph

The firm first announced its intention to launch a private fund for accredited investors tracking the Nasdaq Crypto Index in June.

Investment firm Victory Capital Management has filed an application with the U.S. Securities and Exchange Commission for a cryptocurrency exchange-traded fund.

In a Form S-1 registration filed Tuesday with the regulatory body, Victory said it intended to move forward with listing an exchange-traded fund, or ETF, tracking the Nasdaq Crypto Index. The index consists of eight cryptocurrencies: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Chainlink's LINK, Stellar's Lumen (XLM), Filecoin (FIL) and Uniswap's UNI.

The Securities and Exchange Commission, or SEC, has not yet approved any crypto ETF in the United States. Companies including VanEck, Valkyrie Digital Assets, and Fidelity Investments have filed for crypto ETFs with the SEC, but the regulatory body has delayed a final decision with extensions and opening the matter to public comments.

Victory announced in June it would be taking steps for its U.S.-based investors to get exposure to the crypto market. The firm said it would launch a private fund for accredited investors tracking the Nasdaq Crypto Index and private funds that will track the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index.

As of June 30, Victory Capital had more than $161 billion in assets under management.

This story is developing and will be updated.

$160 Billion Asset Manager Entering Crypto Market in Collaboration With Nasdaq

June 9, 2021 Bitcoin.com

$157B Victory Capital plans to enter crypto market

June 9, 2021 Coin Telegraph

Asset Management

The firm aims to let U.S. investors get exposure to crypto through a private fund tracking the Nasdaq Crypto Index.

Investment firm Victory Capital Management announced it would be taking steps for its U.S.-based investors to get exposure to the crypto market.

In a Wednesday announcement, Victory Capital said it would be the exclusive sponsor of “private placement funds and other vehicles” based on the Nasdaq Crypto Index, or NCI, an index developed by Nasdaq and Brazilian crypto asset manager Hashdex. The firm said it plans to launch a private fund for accredited investors tracking the NCI, as well as private funds that will track the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index.

“Cryptocurrency is a viable asset class that can be part of a well-diversified portfolio,” said Victory Capital’s ETF provider VictoryShares president Mannik Dhillon. “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.”

Hashdex partnered with Nasdaq to issue a Bitcoin exchange-traded fund in Bermuda in September, with the Bermuda Stock Exchange approving the product in February. Its Nasdaq Crypto Index consists of 8 cryptocurrencies: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Chainlink (LINK), Stellar (XLM), Filecoin (FIL), and Uniswap (UNI).

As of April 30, Victory Capital has more than $157 billion in assets under management. In contrast, digital asset manager Grayscale reported yesterday that it has $30.9 billion assets under management for its crypto investments.

victory capital