A large asset management firm by the name of Victory Capital manages over $157 billion worth of assets. Has announced that they are launching a private fund aimed at investing in the crypto market. The announcement was made through a post on their website in which they also announced a partnership with Nasdaq and Hashdex.
The firm has signed an agreement with Nasdaq and crypto asset management firm Hashdex. According to the agreement the firm will create a private fund that will work exclusively on the Nasdaq Crypto Index. NCI is a multi-coin index created by Nasdaq used to track crypto assets.
The fund will only be available to accredited investors and it will exclusively track Nasdaq’s NCI, and also the Nasdaq bitcoin as well as Nasdaq Ethereum price index.
The Rise of the Institutional Investors
Crypto prices in 2021 skyrocketed due to the foray of institutional investors in the field. Many institutional investors entered the bitcoin world in 2021 sending the price to an all time high. However since then the price has fallen considerably, due to environmental concerns over crypto mining.
Tesla, Microstrategy were amongst the only high-profile public companies that invested in bitcoin. However, with Victory Capital moves it seems as if other companies might also be interested in investing. This is also very good news for crypto enthusiasts as any positive cash flow into bitcoin might mean its return to its highs.
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