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$160 Billion Asset Supervisor Coming into Crypto Market in Collaboration With Nasdaq

06/10/2021
$160 Billion Asset Manager Entering Crypto Market in Collaboration With Nasdaq

An asset administration agency with almost $160 billion in property underneath administration, Victory Capital, has introduced that it’s coming 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 underneath 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. prematurely 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, based mostly 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 can observe the NCI. It’ll additionally supply non-public funds that observe the Nasdaq Bitcoin Reference Worth Index and the Nasdaq Ethereum Worth Index.

Sean Wasserman, vp and international head of Nasdaq’s Index and Advisor Options, commented:

We have now seen a growing maturity within the cryptocurrency ecosystem. Our work with business companions equivalent to Victory Capital and Hashdex furthers the innovation within the digital asset house.

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