Victory Capital Plans to Offer Crypto Market Exposure to US Investors Via A Private Fund

By Shannon Wilson | June 10, 2021
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Investment entity Victory Capital Management reportedly revealed its initiative to offer crypto exposure to investors based in the US, via a private fund tracking the Nasdaq Crypto Index.

Specifically, per Victory Capital, it would reportedly take the role of the sole sponsor of “private placement funds and other vehicles”, operating on the Nasdaq Crypto Index (NCI) – a joint index project built by NASDAQ and asset management firm Hashdex from Brazil. 

The company reportedly disclosed its initiative to release a private fund dedicated to accredited investors, tracking the NCI and private funds that will track the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index.

Mannik Dhillon, president of VictoryShares, Victory Capital’s ETF provider, reportedly remarked that crypto is an asset class that can contribute to the well-diversified nature of a portfolio. 

“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.”

The alliance between Hashdex and NASDAQ was reportedly formed in September last year, to finalize the issuance of a Bermuda-based Bitcoin exchange-traded fund, with approval from the Bermuda Stock Exchange secured in February. 

There are eight virtual coins available on the Nasdaq Crypto Index, including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Chainlink’s LINK, Stellar’s Lumen (XLM), Filecoin (FIL), and Uniswap’s UNI.

As of April 30, Victory Capital is reportedly taking care of the management work for over $157 billion in assets.

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