Nasdaq has taken a big step towards diversifying its cryptocurrency choices by submitting a proposed rule change to the U.S. Securities and Exchange Commission (SEC) on June 2, 2025, to broaden its Nasdaq Crypto Index (NCI). The proposal seeks to incorporate 4 outstanding altcoins—XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM) alongside the prevailing Bitcoin (BTC) and Ethereum (ETH) within the index, which serves as a benchmark for the Hashdex Nasdaq Crypto Index US ETF (NCIQ).
The proposed growth provides XRP, Solana, Cardano, and Stellar Lumens to the Nasdaq Crypto Index, which at present tracks solely Bitcoin and Ethereum by the Nasdaq Crypto US Settlement Value Index (NCIUS). This transfer goals to create a extra complete benchmark that displays the evolving digital asset market. Diversification is crucial for traders because it reduces threat by spreading publicity throughout a number of property, doubtlessly capturing progress from altcoins with distinctive use circumstances like cross-border funds (XRP), scalable good contracts (Solana), research-driven blockchain growth (Cardano), and low-cost transactions (Stellar). The SEC is predicted to ship a choice on this proposal by November 2, 2025, following a interval for public feedback and regulatory overview.
Institutional Relevance
The inclusion of those altcoins is poised to boost the Hashdex Nasdaq Crypto Index US ETF (NCIQ), which at present holds solely Bitcoin and Ethereum because of regulatory constraints. This limitation creates a monitoring error, as NCIQ goals to copy the broader NCI however is restricted to the narrower NCIUS. Approval of the rule change would enable NCIQ to speculate straight in all 9 cryptocurrencies within the NCI, specifically, Bitcoin, Ethereum, XRP, Solana, Cardano, Stellar, Chainlink (LINK), Litecoin (LTC), and Uniswap (UNI). It will doubtlessly scale back the discrepancies and can supply traders broader publicity to the crypto market. This step aligns with rising institutional demand for diversified crypto funding autos, as evidenced by the $138 billion in property below administration for Bitcoin and Ethereum ETFs by late 2024.
Implications for Altcoins and Buyers
The inclusion of XRP, Solana, Cardano, and Stellar within the Nasdaq Crypto Index might considerably enhance their visibility and liquidity. Institutional recognition typically drives elevated buying and selling volumes and worth stability, as seen with Bitcoin and Ethereum following their ETF approvals. As an example, XRP’s market cap stands at $130.93 billion as of June 9, 2025, with a 7% worth enhance during the last 6 months, reflecting robust market curiosity. Solana, Cardano, and Stellar additionally profit from their respective strengths in scalability, sustainability, and international fee options, making them engaging to institutional traders.
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XRP’s inclusion is especially noteworthy given its authorized historical past. In April 2025, a court docket ruling clarified that XRP shouldn’t be a safety, lowering regulatory hurdles and boosting investor confidence. This growth positions XRP as a frontrunner for institutional adoption, significantly in cross-border fee programs, additional amplified by its potential inclusion in a Nasdaq-backed index.
Market Alerts
Between June and November 2025, traders ought to monitor a number of key developments like public feedback submitted to the SEC, potential suggestions from regulators, and market reactions to the proposal. The crypto market has already proven optimism, with XRP buying and selling at $2.226 and Solana at $150 (as of June 9, 2025), reflecting worth surges, following early information of the proposal. The SEC’s overview course of will likely be crucial, as its approval might pave the best way for totally diversified U.S.-listed crypto index ETFs, marking a big shift towards mainstream monetary integration of altcoins.
Nasdaq’s June 2, 2025, rule submitting to broaden the Nasdaq Crypto Index represents a pivotal second for altcoin adoption. By proposing to incorporate XRP, Solana, Cardano, and Stellar, Nasdaq is signaling confidence within the rising maturity of the crypto market. If permitted by the SEC by November 2, 2025, this variation might improve the Hashdex Nasdaq Crypto Index US ETF, scale back monitoring errors, and supply traders with diversified publicity to main digital property. As institutional curiosity in cryptocurrencies continues to rise, this proposal underscores the growing alignment between conventional finance and the digital asset ecosystem.
FAQs
What’s the Nasdaq Crypto Index (NCI)?
The Nasdaq Crypto Index (NCI) is a benchmark created by Nasdaq to trace the efficiency of a choose group of cryptocurrencies. It supplies a standardized manner for traders to measure the worth and progress of main digital property, just like how the S&P 500 tracks shares.
What’s the Nasdaq Crypto US Settlement Value Index (NCIUS)?
The Nasdaq Crypto US Settlement Value Index (NCIUS) is a subset of the NCI, at present restricted to Bitcoin (BTC) and Ethereum (ETH). It’s used because the reference for monetary merchandise like ETFs within the U.S., the place regulatory restrictions restrict which cryptocurrencies may be included. The NCIUS ensures compliance with U.S. laws whereas monitoring the value efficiency of permitted property.
What’s NCIQ?
NCIQ is the ticker image for the Hashdex Nasdaq Crypto Index US ETF, a U.S.-listed exchange-traded fund that goals to copy the efficiency of the Nasdaq Crypto Index (NCI).
Who’s Hashdex?
Hashdex is a world asset administration agency specializing in cryptocurrency funding merchandise. It companions with Nasdaq to supply the Hashdex Nasdaq Crypto Index US ETF (NCIQ), which supplies traders with a regulated strategy to acquire publicity to cryptocurrencies by a conventional funding automobile, like a inventory market ETF.
Which cash are being added to the Nasdaq Crypto Index?
On June 2, 2025, Nasdaq proposed including 4 new altcoins to the Nasdaq Crypto Index: XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM). These be a part of the prevailing Bitcoin, Ethereum, Chainlink (LINK), Litecoin (LTC), and Uniswap (UNI), bringing the full to 9 cryptocurrencies.
What are altcoins?
Altcoins, or “different cash,” are any cryptocurrencies apart from Bitcoin. They typically goal to handle particular use circumstances or enhance on Bitcoin’s know-how.
