Victory Capital Pending SEC Approval for Cryptocurrency Exchange-Traded Fund (ETF)

Back in June Victory Capital revealed that they were in the process of filing an application with the SEC for initiating a private fund.

The application with the Securities and Exchange Commission (SEC) for launching the ETF which enables the tracking of Nasdaq Crypto Index as was arranged with Hashdex has already been filed on Tuesday. Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Filecoin (FIL), Chainlink’s LINK, Uniswap’s UNI, Litecoin (LTC), and Stellar’s Lumen (XLM) are the eight cryptocurrencies listed in the Nasdaq Crypto Index.

President of VictoryShares Mannik Dhillon stated that a crypto ETF would be ideal for clients because it introduces a whole new category of assets and provides an opportunity to track a selection of different coins.

In June, plans that were disclosed by Victory Capital included the launch of a brand-new fund that would allow investors to track Nasdaq Bitcoin (BTC) Reference Price Index as well as Nasdaq Ethereum (ETH) Price Index. The launch of the fund is complete, and it now identifies as the Victory Hashdex Nasdaq Crypto Index Fund (in agreement with Hashdex- Brazilian fund manager).

Victory Capital has $161 billion in assets currently managed at the end of June. Victory Capital Holdings’ stock is trading at $31.95 at present, incurring an upsurge of more than 9%.

Victory Capital is not the first company to file an application for a cryptocurrency ETF. Fidelity Investments, VanEck, and Valkyrie Digital Assets are the companies that have already filed the Form S-1 registration with the SEC. However, any final rulings are being delayed due to public comment deliberation and leeway.

Also read: Hacker Attack Costs Popsicle Finance $25 Million