Nasdaq suggests adding XRP and Solana in the course of regulatory changes in the crypto index
NASDAQ has submitted an application for a change of control to the US stock exchange supervision to record four new cryptocurrencies in its Nasdaq Crypto Index (NCI): XRP, Solana (Sol), Cardano (ADA) and Stellar (XLM). In the event of approval, this would mean a significant expansion beyond the current Bitcoin and Ethereum coverage and increase the total number of index components to six. This step reflects the growing institutional interest in diversifying crypto engagement beyond the two leading digital assets.
The proposal submitted on June 2, 2025 aim to adapt the stocks of the Hashdex Nasdaq Crypto Index US ETF (ticker: NCIQ) to the broader index. This extended version of the NCI already contains the four affected old coins, but has not yet been shown in the underlying assets of the ETF. Regulatory restrictions currently limit the ETF to Bitcoin and Ethereum, despite the market demand for wider access. The proposed change aims to reduce the tracking error between the ETF and the overall index in order to enable more precise performance form and a stronger investor confidence.
SEC decision awaited by November
The SEC checks the proposal according to Rule 19b-4 and is expected to make a decision by November 2, 2025. The submission takes place in the course of improving regulatory clarity for some of the proposed additions – especially for XRP. In April 2025, a Federal Supreme Court confirmed that XRP was not considered a securities, making one of the most important legal obstacles that had previously hindered the institutional introduction.
If the SEC approves the change of control, the Hashdex ETF should include all six assets in its portfolio. This could represent a turning point for the legitimacy of old coins and signal a change in the perception of assets outside of Bitcoin and Ethereum in traditional finance. Analysts assume that such a decision leads to considerable tributaries in the ETF, improve the liquidity of the newly recorded tokens and promote further product development in the area of ​​diversified crypto investment vehicles.
A turning point for old coins?
Market analysts see the proposal as a decisive step towards mainstreaming selected old coins, similar to previous ETF registrations for Bitcoin and Ethereum. A positive result of the SEC would continue to validate these tokens and could significantly influence the ETF rivers and the investigation in the last quarter of 2025. The inclusion of XRP, SOL, ADA and XLM in a NASDAQ-bound financial product would give these assets an unprecedented presence among institutional investors.
The planned index expansion also reflects general industry trends. Traditional financial institutions are increasingly integrating digital assets into their portfolios – not only as a speculation object, but as a strategic component of a diversified asset management. The step of the NASDAQ could inspire similar initiatives from other index providers and fund managers and further accelerate the integration of crypto assets into traditional finance.
In view of the upcoming decision of the SEC, all eyes will be aimed at further development. Whether it leads to a broader altcoin acceptance or marks a more moderate development of crypto investment vehicles, the result will probably have sustainable effects on the market structure and the investor landscape.
