Victory Capital, which manages $ 157 billion in assets, has announced plans to launch a cryptocurrency investment fund.
The company said in a statement that the fund will be available after signing an exclusive agreement with the Nasdaq stock exchange and crypto asset management company Hashdex. The fund will invest in cryptocurrencies based on the Nasdaq Crypto Index.
Accredited investors will be able to buy the fund’s shares. At the same time, in the future, Victory Capital plans to launch two more funds, the shares of which will be calculated based on the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index. Victory Capital President Mannik Dhillon said:
“We continue to strive to provide our customers with the most advanced capabilities. We believe that cryptocurrencies are a very viable asset class that fits well into a diversified investment portfolio. ”
Currently, institutional investors are withdrawing funds from cryptocurrencies. According to CoinShares, in the week from May 31 to June 6, the outflow of institutional investors’ money from Bitcoin funds amounted to $ 141 million.
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