Victory Capital joins list of firms seeking SEC’s approval for crypto-ETF

business man show increase market share investment scaled

Victory Capital Holdings, Inc., a global asset management firm listed on NASDAQ, today announced its intention to launch Victory Hashdex Nasdaq Crypto Index Fund LLC. This is a private fund that tracks the Nasdaq Crypto Index (NCI). This company will function under Victory Capital Management Inc, which is an adviser to the VictorShares ETFs.

According to reports, it has filed an initial registration statement with the United States Securities and Exchange Commission [SEC] to offer strategy in an exchange-traded fund [ETF] vehicle.

As per Mannik Dhillon, CFA, CAIA, President of VictoryShares & Solutions,

“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.”

The company claims its private fund is unique in the digital asset investment landscape due to its multi-coin access, daily liquidity at NAV, and Nasdaq index governance. However, as an ETF applicant, it is just another in a list of dozens awaiting the SEC’s approval.

Grayscale, for instance, has been in the queue for a long time. It is intent on its goal of converting its premium Bitcoin offering into an ETF. In fact, it recently appointed a 20-year ETF veteran Dave Lavalle as its first Global Head of ETFs.

Will the SEC bend? It’s hard to tell. Especially since as per SEC Chief Gary Gensler, the Bitcoin-based product will be passed only with strict rules in place. Compliance with SEC norms will be crucial for any and every institution seeking a Bitcoin ETF going forward.

Ronnie Huss

Ronnie Huss

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 67,453.07
ethereum
Ethereum (ETH) $ 3,756.09
tether
Tether (USDT) $ 0.999471
bnb
BNB (BNB) $ 594.85
solana
Solana (SOL) $ 168.10
staked-ether
Lido Staked Ether (STETH) $ 3,751.42
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.522023
dogecoin
Dogecoin (DOGE) $ 0.163328
shiba-inu
Shiba Inu (SHIB) $ 0.000027
cardano
Cardano (ADA) $ 0.451018
the-open-network
Toncoin (TON) $ 6.45
avalanche-2
Avalanche (AVAX) $ 36.35
chainlink
Chainlink (LINK) $ 18.56
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,443.07
polkadot
Polkadot (DOT) $ 7.16
tron
TRON (TRX) $ 0.111946
bitcoin-cash
Bitcoin Cash (BCH) $ 465.90
near
NEAR Protocol (NEAR) $ 7.60
uniswap
Uniswap (UNI) $ 10.50
matic-network
Polygon (MATIC) $ 0.715710
litecoin
Litecoin (LTC) $ 83.44
pepe
Pepe (PEPE) $ 0.000015
internet-computer
Internet Computer (ICP) $ 12.10
leo-token
LEO Token (LEO) $ 5.96
fetch-ai
Fetch.ai (FET) $ 2.19
dai
Dai (DAI) $ 0.999961
wrapped-eeth
Wrapped eETH (WEETH) $ 3,901.93
ethereum-classic
Ethereum Classic (ETC) $ 30.35
render-token
Render (RNDR) $ 10.22
aptos
Aptos (APT) $ 9.08
dogwifcoin
dogwifhat (WIF) $ 3.78
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,712.84
hedera-hashgraph
Hedera (HBAR) $ 0.103313
cosmos
Cosmos Hub (ATOM) $ 8.67
arbitrum
Arbitrum (ARB) $ 1.14
immutable-x
Immutable (IMX) $ 2.22
kaspa
Kaspa (KAS) $ 0.137654
mantle
Mantle (MNT) $ 0.995218
filecoin
Filecoin (FIL) $ 5.77
crypto-com-chain
Cronos (CRO) $ 0.116456
stellar
Stellar (XLM) $ 0.106778
first-digital-usd
First Digital USD (FDUSD) $ 0.999808
the-graph
The Graph (GRT) $ 0.309603
ethena-usde
Ethena USDe (USDE) $ 1.00
blockstack
Stacks (STX) $ 1.93
okb
OKB (OKB) $ 45.77
bittensor
Bittensor (TAO) $ 395.12
optimism
Optimism (OP) $ 2.50
floki
FLOKI (FLOKI) $ 0.000269