Victory Capital filed for a cryptocurrency ETF with the U.S. Securities and Exchange Commission (SEC)

victory capital

Another institution files for a cryptocurrency ETF on the U.S. trading floor. The pressure on the SEC is getting clearer.

Victory Capital joins the stakes

Another application for a cryptocurrency exchange-traded fund has appeared at the Securities and Exchange Commission (SEC). This time, it was filed by investment firm Victory Capital Management.

As reported by the company’s representatives, the premise outlined in the application is to continue listing an ETF that tracks the NASDAQ Crypto Index. This is all in a speech with the Brazilian fund manager Hashdex. Importantly, this is not an index focused solely around Bitcoin, but accumulates 8 different cryptocurrencies. These are Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Chainlink (LINK), Stellar (XLM), Filecoin (FIL) and Uniswap (UNI).

As Mannik Dhillon, president of ETF provider Victory Capital, comments, the potential launch of the offering is designed to give clients comfortable exposure to several coins while introducing a new asset class to their portfolios. 

Victory Capital Holding is a financial services company listed on NASDAQ under the acronym VCTR. Although it was founded in 2013, the company already managed the equivalent of $161 million in assets as of the end of the second quarter of this year. Victory Capital is another entity applying to the SEC to open an ETF in the cryptocurrency space.

The SEC and its stance on bitcoin ETFs

The SEC in the crypto community is a very well-known financial authority. This U.S. regulator is famous in recent times, for example, for the court case it is pursuing against Ripple, the issuer of the XRP token.

The SEC is also the institution that issues permits for the introduction of new financial instruments on the American trading floor. The commission has recently been responsible for regularly dismissing applications for ETFs on Bitcoin. You can read more about this case in the article under the title “Bitcoin ETF”.

The recognition of such a type of fund in the U.S. exchange-traded space has long been awaited by the entire market. The more so, that similar instruments already exist in Canada, Brazil, as well as Switzerland.

What is an ETF?

ETF (Exchange Traded Fund), is an increasingly popular type of investment fund, designed to reflect the value of the index it represents. It gives exposure to the index. It can also find coverage in the actual object of its trading. It simplifies investment values. A potential Bitcoin ETF, is a chance for large investors to participate in the cryptocurrency market, without having to set up accounts on specialized exchanges for this purpose. An ETF on BTC would not require knowledge of devices such as hardware wallets, at least. Consequently, this is an opportunity for this particular asset to go out, to a much wider audience.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

All articles loaded
No more articles to load

Knowledge Base

Terra (LUNA)

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Knowledge Base

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is Terra (LUNA)? Blockchain Terra (LUNA)…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…
All articles loaded
No more articles to load