SAN ANTONIO, Texas–(BUSINESS WIRE)–Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Firm”) right this moment introduced that its wholly owned funding adviser, Victory Capital Administration Inc., has established unique agreements with each Nasdaq and crypto-focused asset supervisor Hashdex Ltd. (“Hashdex”) prematurely of plans to enter the cryptocurrency market. Victory Capital would be the unique sponsor of personal placement funds and different automobiles for U.S. traders, primarily based on the Nasdaq Crypto Index (NCI), a multi-coin crypto index co-developed by Nasdaq and Hashdex.
Victory Capital plans to launch a non-public fund for accredited traders that may observe the NCI. Moreover, Victory Capital shall be providing non-public funds that observe the Nasdaq Bitcoin Reference Worth Index in addition to the Nasdaq Ethereum Worth Index. Hashdex will present its buying and selling and asset administration experience to every of those merchandise.
The NCI was developed to handle quickly rising institutional investor curiosity in digital belongings. The foundations-based index is designed to be dynamic in nature, broadly consultant of the investable panorama of the cryptocurrency market, and readily trackable by traders. It employs strict eligibility standards and is rebalanced quarterly to keep up a present illustration of this market.
Hashdex was created with the mission of constructing a simplified bridge between conventional monetary markets and the crypto market. Based in early 2018, Hashdex pioneered the world’s first crypto index funds. The corporate manages index, passive and systematic crypto funds at the moment out there to non-U.S. traders.
“We regularly try to supply our shoppers with the forward-thinking selections they need and imagine cryptocurrency is a viable asset class that may be a part of a well-diversified portfolio,” mentioned Mannik Dhillon, CFA, CAIA, President, VictoryShares and Options. “By investing in a portfolio designed to trace the NCI, traders can search returns that align with the cryptocurrency market in a diversified method, gaining publicity to a number of digital belongings as this market continues to evolve and mature. We’re actively contemplating different automobiles and wrappers to convey these capabilities to a broader set of traders.”
“Now we have seen a creating maturity within the cryptocurrency ecosystem,” mentioned Sean Wasserman, Vice President, World Head of Index and Advisor Options, Nasdaq. “Our work with business companions resembling Victory Capital and Hashdex furthers the innovation within the digital asset house.”
“We got down to clear up an issue we have been having ourselves. We wished an institutional-grade index technique that will enable us to personal beta within the crypto asset class,” commented Marcelo Sampaio, CEO of Hashdex. “We created a dynamic index technique that permits non-U.S. traders to make allocations to the asset class, reasonably than making an attempt to select winners. We’re thrilled to accomplice with Victory Capital and Nasdaq to convey our funding capabilities to the U.S. market sooner or later.”
About Victory Capital
Victory Capital is a diversified international asset administration agency with $157.1 billion in belongings underneath administration as of April 30, 2021. The Firm operates a next-generation enterprise mannequin combining boutique funding qualities with the advantages of a totally built-in, centralized working and distribution platform.
Victory Capital offers specialised funding methods to establishments, intermediaries, retirement platforms and particular person traders. With 10 autonomous Funding Franchises and a Options Platform, Victory Capital gives a wide selection of funding types and funding automobiles, together with actively managed mutual funds, individually managed accounts, energetic ETFs, multi-asset class methods, custom-designed options and a 529 Faculty Financial savings Plan.
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