Nasdaq crypto index expansion is near as Nasdaq has submitted with the SEC to include XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM) in its crypto benchmark. The submission, made on June 2, 2025, will raise institutional exposure to altcoins via the Hashdex Nasdaq Crypto Index US ETF.
Nasdaq Crypto Index Expansion: Key Changes
Nasdaq’s proposed change will move the ETF’s basis from then-current Nasdaq Crypto US Settlement Price Index (NCIUS) to broader Nasdaq Crypto Index (NCI). Expansion includes XRP, SOL, ADA, and XLM inclusion in the current Bitcoin, Ethereum, Litecoin, Chainlink, and Uniswap.
It will consist of nine tokens. Upon approval, it will allow the ETF to invest directly in the other assets. It will more accurately reflect the space’s growing diversity and maturity.
Institutional Altcoin Interest Surges
Cardano’s inclusion, however, is especially a stamp of approval on growing institutional faith in altcoins. Holding the tenth-largest market-capitalization token, inclusion of ADA in a Nasdaq benchmark is a signal of growing legitimacy. Solana and Stellar are also institutionally put into focus by the move.
XRP is significant against the background of current regulatory categorization that made it non-security. Its inclusion remains an asset that remains investible for regulated investment products.
Industry players who include inclusion of such an index as evidence that they are following a trend to introduce more altcoins to the financial markets, as opposed to Bitcoin and Ethereum, is a sign that institutions want to make investments in diversified exposure in crypto.
SEC Approval and ETF Implications
Even though the addition to the index is proposed, the ETF still follows Bitcoin and Ethereum. The rule change needs to be approved by the SEC before the ETF closes in order to incorporate the new index structure.
This mismatch resulted in tracking error as the ETF was no longer tracking the index because of regulatory limitations. Nasdaq’s filing attempts to explain this, asking for approval to keep all nine constituents in the new benchmark.
The SEC has to make the appropriate decision by Nov. 2, 2025. If approved, it would give go-ahead for the ETF to have direct exposure to XRP, SOL, ADA, and XLM, which would give investors more diversified exposure into altcoins.
What It Means for Investors
Inclusion of these four altcoins provides investors with more options. The more inclusive index anchored by Nasdaq provides credibility and transparency. If accepted, the Hashdex ETF would expose investors to a diversified portfolio of digital assets.
It can restrict exposure to risk to Bitcoin or Ethereum only. It can also introduce new institutional investors seeking diversified exposure to digital assets in an ETF structure.
Nasdaq’s new cryptocurrency benchmark is a giant leap toward mainstream altcoin use. Adding XRP, SOL, ADA, and XLM, Nasdaq is moving toward crossing over into institutions more and more taking up positions on the buy side. Pending SEC approval, the story has the potential to turn on its head how ETFs tap the broader universe of crypto.
