Credit: Original article published by Bitcoin News.

An asset management firm with nearly $160 billion in assets under management, Victory Capital, has announced that it is entering the cryptocurrency market. The firm has established exclusive agreements with Nasdaq and asset manager Hashdex.

Asset Management Firm Entering Crypto Market

Victory Capital Holdings Inc. (Nasdaq: VCTR) unveiled its plans to enter the cryptocurrency market Wednesday. Victory Capital is a diversified global asset management firm with $157.1 billion in assets under management as of April 30. The firm provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.

The company said that its wholly owned investment adviser, Victory Capital Management Inc., “has established exclusive agreements” with Nasdaq and asset manager Hashdex Ltd. in advance of plans to enter the cryptocurrency market, adding:

Victory Capital will be the exclusive sponsor of private placement funds and other vehicles for U.S. investors, based on the Nasdaq Crypto Index (NCI), a multi-coin crypto index co-developed by Nasdaq and Hashdex.

Victory Capital plans to launch a private fund for accredited investors 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.

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Sean Wasserman, vice president and global head of Nasdaq’s Index and Advisor Solutions, commented:

We have seen a developing maturity in the cryptocurrency ecosystem. Our work with industry partners such as Victory Capital and Hashdex furthers the innovation in the digital asset space.

What do you think about Victory Capital entering the crypto market in collaboration with Nasdaq? Let us know in the comments section below.

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#Bitcoin #Cryptocurrency #Crypto

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