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., â€œhas established exclusive agreementsâ€ with Nasdaq and asset manager Hashdex Ltd. in advance of plans to enter the cryptocurrency market, adding:
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.
Sean Wasserman, vice president and global head of Nasdaqâ€™s Index and Advisor Solutions, commented:
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