Asset managers are slowly looking at cryptocurrency as a viable investment with more and more "big money" looking towards cryptocurrency. Victory Capital has just announced its plans to make an entry into the whole cryptocurrency market in collaboration with none other than NASDAQ.
Victory Capital with NASDAQ
The Tweet by Bitcoin News gave the announcement along with the hashtag #bitcoin at the end, along with an article detailing the news of how a certain large asset manager could join the crypto realm. A certain asset management firm plans a nearly $160 billion entry in assets under management.
The asset manager Victory Capital has just announced that it now plans to enter the highly volatile cryptocurrency market. The actual firm has established certain exclusive agreements along with NASDAQ, and the asset manager called Hashdex.
NASDAQ on Cryptocurrency
Victory Capital Holdings Inc. has just unveiled its official plans to enter the whole cryptocurrency market. The asset manager Victory Capital is a particularly diversified global asset management firm along with $157.1 billion within assets that are under management as of April 30.
The asset management firm provides some sort of specialized investment strategies to different institutions, individual investors, intermediaries, retirement platforms.
The company also noted that its wholly owned investment advisor, known as Victory Capital Management Inc., has been able to establish exclusive agreements along with NASDAQ and the asset manager Hashdex Ltd. in advance of the official plans to enter the cryptocurrency market.
Victory Cappital 'Exclusive Sponsor'
It was noted that Victory Capital will officially be an exclusive sponsor of private placement funds as well as some other vehicles for certain U.S. investors, which will be based on the Nasdaq Crypto Index, a multi-coin crypto index that was co-developed by both Hashdex and Nasdaq.
As of the moment, Bitcoin market activity can be seen on the Nasdaq website, which is a good sign.
With the asset becoming a more popular choice of investment for certain investment firms, the total investors of crypto might start to rise. As of the moment, the top 10 crypto coins aside from one are still bearish due to big crypto whales cashing out as the market goes up.
It still remains to be seen when the market will normaliz,e or when the prices of cryptocurrency, especially Bitcoin, will start to rise once again. As of the moment, however, cryptocurrency has started to become more and more popular as newer investors and traders all start to join the market.
An article by CNN details how the crashing prices of crypto have started to spook newer investors. Due to the unfamiliar volatility to some, cryptocurrency is an asset that is quite complicated to invest in.
Understanding the market cycle of Bitcoin, however, helps with a trader's comprehension of the full cryptocurrency market cycle. As of the moment, the market is built on a lot of fear as the newer traders are panic selling their holdings.
This article is owned by Tech Times
Written by Urian B.