Funding agency Victory Capital Administration has filed an software with america Securities and Change Fee (SEC) for a cryptocurrency exchange-traded fund.
In a Type S-1 registration filed Tuesday with the regulatory physique, Victory stated it intended to maneuver ahead with itemizing an exchange-traded fund, or ETF, monitoring the Nasdaq Crypto Index as a part of an agreement with Brazilian fund manager Hashdex. The index consists of eight cryptocurrencies: Bitcoin (BTC), Ether (ETH), Bitcoin Money (BCH), Litecoin (LTC), Chainlink’s LINK, Stellar’s Lumen (XLM), Filecoin (FIL) and Uniswap’s UNI.
“A possible future ETF providing will present our purchasers with handy publicity to a number of cash whereas introducing a brand new asset class for his or her portfolios,” said Mannik Dhillon, president of VictoryShares, Victory Capital’s ETF supplier.
The SEC has not but permitted any crypto ETF in america. Firms together with VanEck, Valkyrie Digital Belongings and Constancy Investments have utilized for registering crypto ETFs with the SEC, however the regulatory physique has delayed any final decision through the use of extensions and opening the matter to public feedback.
Victory introduced in June that it could be taking steps for its U.S.-based buyers to get publicity to the crypto market. The agency stated it could launch a private fund — now known as the Victory Hashdex Nasdaq Crypto Index Fund — for accredited buyers monitoring the index and personal funds that may monitor the Nasdaq Bitcoin Reference Value Index and the Nasdaq Ethereum Value Index.
As of June 30, Victory Capital had greater than $161 billion in belongings below administration. The worth of Victory Capital Holdings’ inventory on the Nasdaq below the ticker VCTR has risen greater than 9% within the final week to succeed in $31.95 on the time of publication.