Victory Capital Management, a global asset management company listed on Nasdaq Stock Market, has applied to the US Securities and Exchange Commission (SEC) to list an Exchange-Traded Fund (ETF) tracking the Nasdaq Crypto Index (NCI).
Victory filed a Form S-1 registration on Wednesday, August 4, and talked about the development, stating that it plans to list an exchange-traded fund (ETF) tracking the Nasdaq Crypto Index as part of an agreement with Brazilian fund manager Hashdex. The index consists of eight crypto assets, including Bitcoin, Ethereum, Litecoin, Uniswap, Stellar’s Lumen, Chainlink, Bitcoin Cash is a cryptocurrency. In mid-2017, a group of developers wanting to increase bitcoin” s=”” block=”” size=”” limit=”” prepared=”” a=”” code=”” change.=”” …=””>Bitcoin Cash, and Filecoin.
Mannik Dhillon, CFA, CAIA, President of Victory Shares & Solutions, said:
“We’re thrilled to offer investors access to the exciting and emerging crypto-asset space. We’re confident we’re on the verge of fast and remarkable advancements in this arena. The Victory Hashdex Nasdaq Crypto Index Fund, along with a potential future ETF offering, will provide our clients with convenient exposure to multiple coins while introducing a new asset class for their portfolios,”
In June, Victory announced that it would be taking steps for its US-based investors to get exposure to the cryptocurrency market. The company stated that it would launch a private fund called the Victory Hashdex Nasdaq Crypto Index Fund for its accredited investors to track the Nasdaq crypto index (NCI).
ETF Making It Easy to Crypto Investment
There is a new way to invest in cryptocurrencies without actually purchasing any crypto. Victory Capital Management has announced plans to list an exchange-traded fund (ETF) that tracks the Nasdaq Crypto Index (NCI) prices.
The efforts by Victory is the latest financial product offering exposure to cryptocurrency, as the company strives to create ways for its investors to grab a piece of the once-obscure crypto assets.
Compared with directly purchasing cryptocurrency, which may involve opening a new account with an unregulated party, Victory’s Crypto Index Fund intends to offer its clients the opportunity to gain exposure to cryptocurrencies through a form and investment method that hundreds of millions of investors are familiar with.
Many more investment companies have filed to launch exchange-traded funds that invest in cryptocurrency is a digital asset containing cryptographic protocols that make transactions secure and immutable. Crypto…”>cryptocurrencies or Bitcoin futures, but the US SEC has not approved any application so far.
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