Victory Capital, which manages a total of $157.1 billion in assets, announced that it has signed an agreement with both Nasdaq and Hashdex to enter the cryptocurrency market.
The firm will set up a private fund tracking the Nasdaq Crypto Index
Global asset management firm Victory Capital announced in a press release its plan to launch a private fund tracking the Nasdaq Crypto Index (NCI) for qualified investors. It consists of Bitcoin, Ethereum, Litecoin, Chainlink, Bitcoin Cash, Uniswap, Stellar Lumens and Filecoin.
In addition, Hashdex will provide trading and asset management services for other Nasdaq private funds on which the Bitcoin and Ethereum price indices will be based.
Cryptocurrencies should be considered as a valid asset class for a diversified portfolio
Victory Capital’s President Mannik Dhillon said cryptocurrencies could be considered a “valid asset class” for a portfolio of various assets. The company said it is planning to do more research on the asset class and how it can offer it to a broader customer base.