Victory Capital Management has announced Wednesday that it has established exclusive agreements with both Nasdaq and crypto-focused asset manager Hashdex in advance of plans to enter the cryptocurrency market.
David C. Brown, Chairman and CEO of Victory Capital
According to the press release, the multi-billion-dollar firm 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, that is used to keep track of the performance of Bitcoin, Ethereum, and several other altcoins.
Speaking on this, Mannik Dhillon, President of VictoryShares and Solutions for Victory Capital, said:
“We continually strive to provide our clients with the forward-thinking choices they want and believe cryptocurrency is a viable asset class that can be part of a well-diversified 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. We are actively considering other vehicles and wrappers to bring these capabilities to a broader set of investors.”
“We have seen a developing maturity in the cryptocurrency ecosystem,” said Sean Wasserman, Vice President, Global Head of Index and Advisor Solutions, Nasdaq. “Our work with industry partners such as Victory Capital and Hashdex furthers the innovation in the digital asset space.”
“We set out to solve a problem we were having ourselves. We wanted an institutional-grade index strategy that would allow us to own beta in the crypto asset class,” commented Marcelo Sampaio, CEO of Hashdex. “We created a dynamic index strategy that enables non-U.S. investors to make allocations to the asset class, rather than trying to pick winners. We are thrilled to partner with Victory Capital and Nasdaq to bring our investment capabilities to the U.S. market in the future.”
Victory Capital is a diversified global asset management firm with $157.1 billion in assets under management as of April 30, 2021.
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