Nasdaq’s Bold Move: Crypto ETFs Get a Makeover with XRP, SOL, ADA, and XLM!

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Well, well, well! It appears that Nasdaq has decided to don its finest waistcoat and make a rather audacious leap into the world of crypto investments. Yes, dear reader, they’ve filed a new rule proposal with the U.S. SEC, which could very well turn the crypto ETF landscape on its head. The crypto community is buzzing like a bee in a flower shop, dubbing this a “power move” that might just entice the institutional bigwigs to take a gander at the digital coinage. However, let’s not get too carried away, as the SEC has yet to give a thumbs-up to any new applications, leaving us all in a state of delightful suspense. Will they or won’t they? 🤔

MEGA BLAST! The SEC just unlocked a new era in crypto.

The Nasdaq Crypto Index (NCIUS) now officially includes $XRP, ADA, SOL & XLM — alongside the OGs BTC & ETH!

This isn’t just an update — it’s a power move toward full-scale institutional adoption.

— XRP Governor (@xrpgovernor) June 8, 2025

XRP, SOL, ADA, XLM Join the Index

On the second day of June, Nasdaq decided to throw caution to the wind and submitted a Rule 19b-4 filing to the SEC, aiming to expand the benchmark for the Hashdex Nasdaq Crypto Index US ETF (NCIQ). Out with the old two-asset benchmark, which was as exciting as watching paint dry, and in with the new, more inclusive Nasdaq Crypto Index (NCI). Huzzah!

The NCI now boasts a veritable smorgasbord of nine major cryptocurrencies, including the stalwarts Bitcoin (BTC) and Ethereum (ETH), along with the newcomers XRP, Solana (SOL), Cardano (ADA), Stellar Lumens (XLM), Chainlink (LINK), Litecoin (LTC), and Uniswap (UNI). Nasdaq is clearly aiming to provide a more comprehensive snapshot of the digital asset landscape, and who can blame them? 🍰

ETF Still Limited to BTC and ETH, for Now

Now, before you start popping the champagne corks, let’s not forget that while the benchmark has expanded, the Hashdex ETF is still shackled by the SEC’s regulations, only permitted to hold BTC and ETH. This creates a rather amusing situation known as a tracking error; the ETF is like a dog chasing its tail, following a broader index but not quite catching up with all its assets. To bridge this gap, Hashdex employs a sampling strategy, which is a fancy way of saying they’re trying to approximate the index’s performance without fully matching it. Quite the juggling act, I must say! 🎪

The SEC has until November 2, 2025, to either approve or reject Nasdaq’s proposal. If they decide to play nice, it could pave the way for the ETF to invest directly in all nine NCI assets, offering greater exposure to altcoins and potentially boosting investor confidence in regulated crypto investment vehicles. Fingers crossed! 🤞

This bold move comes at a time when institutional interest in diversified crypto products is on the rise. Nasdaq’s filing is a significant step toward broader regulatory acceptance and ETF evolution, one that could bring XRP, SOL, ADA, and XLM closer to the hallowed halls of mainstream U.S. investment platforms. Cheers to that! 🥂

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2025-06-09 10:40