Victory Capital News: It seems that the cryptocurrency world will never stop winning minds and hearts, despite the recent downtrend that threatens to bring the market back into winter. This can be confirmed with Victory Capital, the latest entry into the industry.
Victory Capital is no small player when it comes to asset management. The fact that the investment firm has approximately $157 billion in assets (AUM) under management requires us to take the matter seriously.
The firm uses a complex business model that puts it in a position to offer customized investment services. This business and investment model includes its client base, pension funds, institutions and commercial intermediaries. This makes the firm open to a variety of users from many different economic sectors. The firm currently has around 10 investment franchises operating autonomously. It is unclear whether the venture into the crypto world would be considered a franchise in its own right. To make things official, the firm has released a press release announcing its entry into the crypto market.
Victory Capital is stepping into the new world with a plan. They hope to start mutual funds from a target investor perspective. Target investors are those who are accredited and interested in the Nasdaq Bitcoin Price Index and the Ethereum Price Index. In essence, Victory Capital will shape its investment options around the two largest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH).
The company will partner with Hashdex Ltd, a crypto-focused investment asset manager that will leverage its expertise in the management and trading of BTC and ETH. Under this agreement, Victory Capital will provide crypto investment and asset management services for private funds operating in the US and under the NCI (Nasdaq Crypto Index).
What does this mean for the market?
It is clear that the crypto market is already at its peak as the best financial market worldwide and the entry of some of the largest institutional funds and investment firms like Victory Capital is a clear indication of this fact.
While promoting investors spanning various industries, the firm has to introduce crypto to more people and ensure their adoption as reliable investment assets.