Victory Capital, an asset management company that manages nearly $160 billion in assets, announced its entry into the cryptocurrency market. The company has reached an exclusive agreement with Nasdaq and asset management company Hashdex.

Asset management companies enter the crypto market

Victory Capital Holdings Inc. (NASDAQ: VCTR) announced its plan to enter the cryptocurrency market on Wednesday. Victory Capital is a diversified global asset management company with assets under management of US$157.1 billion as of April 30. The company provides professional investment strategies for institutions, intermediaries, retirement platforms and individual investors.

The company stated that before planning to enter the cryptocurrency market, its wholly-owned investment advisor Victory Capital Management Inc. has “established an exclusive agreement” with Nasdaq and asset management company Hashdex Ltd., adding:

Victory Capital will become the exclusive sponsor of private equity funds and other tools for US investors, based on the Nasdaq Crypto Index (NCI), a multi-currency crypto index jointly developed by Nasdaq and Hashdex.

Victory Capital plans to launch a private fund for accredited investors to track NCI. It will also provide private equity funds that track the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index.

Sean Wasserman, Vice President and Global Head of NASDAQ Index and Advisory Solutions, commented:

We have seen the maturity of the cryptocurrency ecosystem. Our cooperation with industry partners such as Victory Capital and Hashdex has further promoted innovation in the field of digital assets.

What do you think of Victory Capital’s cooperation with Nasdaq to enter the crypto market? Let us know in the comments section below.

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