Nasdaq Proposes XRP, SOL, ADA, XLM for Crypto Index
Nasdaq aims to include XRP, SOL, ADA, and XLM in its crypto index, pending SEC approval by Nov 2, 2025.
- Nasdaq filed to add four new assets to its crypto index.
- Proposed change impacts Hashdex Nasdaq Crypto ETF (NCIQ).
- SEC decision deadline set for November 2, 2025.
Nasdaq Targets Major Expansion of Its Crypto Index
On June 2, 2024, Nasdaq submitted a major rule change proposal to the U.S. Securities and Exchange Commission (SEC). This filing seeks approval to expand its widely watched digital asset benchmark—the Nasdaq Crypto Index (NCI)—to include four prominent cryptocurrencies: XRP, Solana (SOL), Cardano (ADA), and Stellar (XLM).
Currently, the Hashdex Nasdaq Crypto Index ETF (ticker: NCIQ) tracks the NCIUS index, a narrower version that does not include the newly proposed assets. If the rule change is approved, the ETF will be permitted to switch to the broader NCI index, which features a total of nine digital assets, thus allowing broader exposure to the crypto market for investors.
What This Means for Investors
The proposed shift would give the Hashdex ETF access to a more diversified portfolio, including high-cap digital assets like XRP and SOL, which have long been considered essential coins in the crypto ecosystem. This expansion could attract both institutional and retail investors looking for diversified exposure through a regulated investment vehicle.
It’s important to note that this is not just a routine update. Including these assets under a Nasdaq-approved ETF would mark another step toward mainstream adoption of cryptocurrencies. ETFs are increasingly popular due to their ease of access, regulatory oversight, and lower fees compared to direct asset purchases.
SEC’s Approval Timeline and Potential Impact
The SEC has until November 2, 2025, to make a final decision on Nasdaq’s proposal. While regulatory delays are common in the crypto world, the extended timeline gives market participants a clear window to anticipate and prepare for possible changes.
If approved, the expanded index could pave the way for similar moves by other financial institutions and increase market legitimacy for the included assets. For XRP and ADA, this could be a particularly welcome development, as both have previously faced regulatory scrutiny.
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