Victory Capital, a NASDAQ-listed asset management firm, is about to launch private funds focused on cryptos.
According to the company, the instruments are intended for accredited investors. They will track the dynamics of the Nasdaq Crypto Index, the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index. The creators of the indexes, NASDAQ and Brazilian company Hashdex, have granted Victory Capital an exclusive right in the United States. Mannik Dhillon, president of subsidiary VictoryShares and Solutions, said:
"We respond to the needs of our clients. They see cryptocurrencies as a viable asset class to diversify their investment portfolios. We are considering additional opportunities to create these types of opportunities for a wider variety of investors."
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Hashdex launched an ETF on the Bermuda Stock Exchange in February based on the NASDAQ-created crypto index NCI.