Key points to remember
- Victory Capital has announced plans to launch a new private fund that tracks the performance of the Nasdaq Crypto Index (NCI).
- The company currently manages over $ 157 billion in assets under management.
- Victory Capital is just the latest institutional player to jump into the crypto space in recent months.
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Multi-billion dollar asset management firm Victory Capital has announced plans to enter the cryptocurrency market.
Victory Capital launches a crypto fund
Victory Capital is breaking into crypto.
In one Press release, the U.S. firm has announced that it will launch a crypto-based private equity fund for accredited investors. The fund will sell securities that track the performance of the Nasdaq Crypto Index (NCI), an index composed of a portfolio of leading crypto assets for institutional investors.
Victory Capital currently has over $ 157 billion in assets under management. The firm offers diversified investment funds for institutions, accredited investors and retirees, as well as specialized products for individual investors.
Victory Capital will also offer private funds that track the Nasdaq Bitcoin Benchmark Price Index and the Nasdaq Ethereum Price Index, two other well-known cryptocurrency-focused indices managed by the Nasdaq and designed to help bridge the gap. between traditional and crypto markets. In this regard, Victory Capital has entered into exclusive agreements with the US exchange Nasdaq and crypto-focused asset manager Hashdex, who jointly developed the Nasdaq Crypto Index (NCI).
According to its website, Victory Capital’s investment vehicles consist of different products to meet the needs of various types of investors, including mutual funds, ETFs, multi-asset class strategies and 529 Education savings plan.
Mannik Dhillon, president of VictoryShares and Solutions, explained that a private fund based on a crypto index like NCI would help the company gain exposure to cryptocurrencies for investors interested in the asset class. He said:
“By investing in a portfolio designed to follow the NCI, investors can seek returns that align with the cryptocurrency market in a diversified way, exposing themselves to multiple digital assets as that market continues to expand. evolve and mature. We are actively considering other vehicles and envelopes to bring these capabilities to a wider range of investors. “
He added that the company is “actively considering” other vehicles to offer digital assets to more investors.
As another multi-billion player joins the crypto rush, it is clear that mainstream investors are interested in the space despite the recent drop in prices.
Since last year, many asset managers around the world have been exposed to crypto. Many of them have gone through regulated investment vehicles from companies like Grayscale and index funds, which could bode well for Victory Capital.
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