Victory Capital is an American asset management firm based in San- Antonio, Texas. As per the financial documents filing in Q1, 2021, the firm holds under $157.1 billion assets under management. The firm becomes the talk of the crypto town as it recently shared aims to get into the crypto derivatives and crypto contracts. In a recent press release, the top brass of the Victory Capital confirmed the news.
The firm is seeking to set up a private fund pegged to the NASDAQ crypto Index or NCI. The NCI measures the performance of the crypto market registered on a national exchange and serves as a benchmark for institutional investors and crypto stakeholders. The Victory Capital index has been developed by Hashdex and the correspondents at the NASDAQ.
In collaboration with Brazilian Asset Management firm, Hashdex, Victory Capital management wishes to provide crypto S&P 500 equivalent for the crypto investors. However, the new index includes a peculiar list of digital assets like Stellar, Bitcoin Cash, and Chainlink. Other major altcoins like Bitcoin and Ethereum have also been added to the list. The concocted mixture of altcoins is said to possess 5% weighting.
Hashdex first rose to fame by introducing the first Exchange Traded Fund (ETF) Index for cryptocurrencies in the world a few years ago. To give the investors better security and more comprehensive results, the asset management firm has decided to introduce two separate private funds for Bitcoin and Ethereum. These two funds would track the performance evaluation of the silver and gold crypto independently.
Victory Capital’s Executive Brass Claims that the Firm Wishes to Introduce a Diversified Crypto Portfolio
Both institutional and private investors would be able to take advantage of the crypto index stocks introduced by Victory Capital. Any investors who want to make better trading decisions and get insight information would be able to purchase investment strategies offered by the asset management firm. The money manager has claimed in a press release that these indices would fill the gap in the market required by a sophisticated class of traders.
President of VictoryShares and Victory Capital Solutions, Mannik Dhillion, claims that the random assortment of cryptocurrencies in the private fund is to ensure a diversified portfolio. He further added that the firm wants to cater to the market gap and provide services to the traders who believe that digital assets are a viable asset class. He also maintained that with the help of the indices, the traders would be able to evolve and make forward-thinking decisions.