$157 billion asset manager Victory Capital will enter crypto market

San Antonio-headquartered asset management firm Victory Capital has announced its plan to enter the cryptocurrency market.

In a June 9 press release, the money manager says it will launch a private fund that will leverage the Nasdaq Crypto Index (​NCI) for sophisticated investors.

Developed by Brazilian asset manager Hashdex and U.S. stock exchange the Nasdaq, the index tracks the performance of Bitcoin, Ethereum and a hodgepodge of altcoins (Bitcoin Cash, Stellar and Chainlink), which has about a five percent weighting in total.

In addition, the firm will also roll out two separate private funds that will separately track the Bitcoin and Ethereum indices.

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