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Victory Capital Management – a U.S. investment giant with $ 157.1 billion in assets under management at the end of April – has announced several new cryptocurrency index funds for accredited investors.
What happened: According to an announcement on Wednesday, the new fund is the result of a collaboration with the Nasdaq (NASDAQ: NDAQ) and crypto-focused asset manager Hashdex.
One fund will track the Nasdaq Crypto Index (NCI), which, at the time of publication, consists of 62.39% Bitcoin (CRYPTO: BTC), 31.7%, Ether (CRYPTO: ETH), 1.34 % Litecoin (CRYPTO: LTC), Chainlink (CRYPTO: LINK), 1.01% Bitcoin Cash (CRYPTO: BCH), 0.9% Uniswap (CRYPTO: UNI), 0.75% Stellar (CRYPTO: XLM), 0.66% Filecoin (CRYPTO: FIL).
The index is also rebalanced and reconstituted each quarter. Global Head of Indexing and Consulting Solutions and Nasdaq Vice President Sean Wasserman acknowledged the advancements made by the crypto industry:
“We have seen a maturity develop in the cryptocurrency ecosystem.”
Victory Capital Management will also launch private funds that track the Nasdaq Bitcoin benchmark price index as well as the Nasdaq Ethereum price index. The company explained that these products are a direct result of “the growing interest of institutional investors in digital assets.”
VictoryShares and Solutions CFO, Chartered Alternative Investment Analyst and Chairman Mannik Dhillon said:
“We continually strive to provide our clients with the forward-thinking choices they desire and believe that cryptocurrency is a viable asset class that can be part of a well-diversified portfolio. […] By investing in a portfolio designed to follow the NCI, investors can seek returns that align with the cryptocurrency market in a diversified way, gaining exposure to multiple digital assets as this market continues to evolve. and mature. We are actively considering other vehicles and envelopes to bring these capabilities to a wider range of investors. ”
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