Victory Capital, an investment company, has recently applied to the US Securities and Exchange Commission for an initial registration statement to offer the strategy in an ETF vehicle. It has applied for an Exchange-Traded Fund(ETF) that tracks the Nasdaq Crypto Index(NCI).
Located in San Antonio, Texas, Victory Capital is a major investment management company that currently manages assets worth $161 billion.
The company has explained its intention in a press release issued by the company. It explained that the company would launch a fund called Victory Hashdex Nasdaq Crypto Index Fund for accredited investors. The fund will trail the Nasdaq Bitcoin Reference Price Index and the Nasdaq Ethereum Price Index.
In the press release, Mannik Dhillon, CFA, CAIA, President of VictoryShares & Solutions said:
“In conjunction with industry index leader Nasdaq and crypto asset manager Hashdex, 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, and 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.”
As of yet, the SEC has not approved any crypto ETF in the United States since many companies have applied for the same. However, countries such as Brazil and Canada have already allowed for trading in multiple Bitcoin and Ethereum ETFs.