Nasdaq Seeks SEC Approval to Expand Crypto Index, Adding Major Altcoins Like XRP, Solana & Cardano

Nasdaq Seeks SEC Approval to Broaden Its Benchmark Crypto Index, Adding Major Altcoins

The Nasdaq stock exchange has taken a significant step toward expanding its footprint in the cryptocurrency market by filing with the U.S. Securities and Exchange Commission (SEC) to broaden its flagship benchmark for digital assets. This move aims to enhance the Nasdaq Crypto Index (NCI) by incorporating additional high-profile cryptocurrencies beyond the current mainstays Bitcoin and Ethereum.

Key Additions to the Nasdaq Crypto Index

The proposed index expansion will include Ripple (XRP), Solana (SOL), Stellar Lumens (XLM), and Cardano (ADA), raising the total number of tracked assets to nine. This diverse lineup reflects the growing influence and adoption of altcoins in the broader crypto ecosystem, moving beyond Bitcoin’s dominance.

Currently, the Nasdaq Crypto Index already tracks foundational assets such as Bitcoin (BTC) and Ethereum (ETH), which remain the most widely recognized cryptocurrencies worldwide.

Regulatory Hurdles and SEC Review Timeline

While the Nasdaq Crypto Index itself includes multiple assets, a related fund, the Hashdex Nasdaq Crypto Index ETF, is limited by regulatory constraints to hold only BTC and ETH. This limitation highlights ongoing regulatory challenges in the U.S. when it comes to crypto asset approvals.

The exchange has formally requested the SEC’s approval to extend the ETF’s holdings to include the newly proposed altcoins. The SEC’s decision is anticipated by November 2, 2025, marking a critical date for market participants watching for broader crypto ETF diversification.

Another key SEC decision date is July 31, 2025, for the fate of the Bitwise 10 Crypto Index ETF, another major crypto fund seeking approval. These timelines underscore a growing institutional interest in regulated crypto investment products, albeit within strict regulatory frameworks.

How Do Crypto Index ETFs Compare to Individual Cryptos?

Recent market data offers a glimpse into how diversified crypto ETFs are performing relative to individual cryptocurrencies like XRP or BTC.

Year-to-date (YTD) Performance:
- Ripple (XRP): down approximately 3%
- Bitcoin (BTC): up roughly 14%
- Crypto Index ETFs (average): gains around 5% or less

Cardano Joins Nasdaq Index Amid Price Drop, Signals Institutional Shift

Specifically, the Coinbase 50 Index (COIN50) has declined by 4%, while the Bitwise 10 Crypto Index ETF lost about 3.5% YTD. In contrast, the Nasdaq Crypto Index and the Nasdaq Hashdex Crypto Index posted gains of approximately 4% and 5%, respectively.

What This Means for Investors

While individual cryptocurrencies like Bitcoin may offer higher returns, diversified crypto index ETFs can provide investors with lower risk exposure across a basket of assets. This reduces volatility and offers a more balanced investment approach, especially for those wary of single-asset price swings.

Ripple’s Recent Partnership and Market Impact

Adding to the excitement around XRP, Ripple recently announced a partnership with a Web Salon focused on fostering Japan’s digital asset ecosystem. This collaboration is expected to boost Ripple’s presence in one of the world’s largest crypto markets.

Following this announcement, XRP’s speculative interest surged, with Open Interest (OI) reaching $4.1 billion for the first time in June—a strong indicator of bullish market sentiment.

Price Action and Technical Outlook for XRP

XRP’s price rebounded by 4%, climbing from $2.10 to $2.30.
The token appears to be consolidating above key moving averages and a short-term supply zone at $2.30.
If $2.30 acts as a solid support level, XRP could potentially rally further toward $2.40 to $2.50, offering a potential gain of 6%-10%.
Conversely, if the price faces rejection at this level, bearish momentum might push XRP back down toward $2.00, reopening downside risk.

Broader Implications for the Crypto Market

The Nasdaq’s push to expand its crypto index signals increasing mainstream acceptance of digital assets and the need for more comprehensive, regulated investment vehicles that encompass a wider array of cryptocurrencies. As institutional investors seek safer and regulated exposure, ETFs like those based on the Nasdaq Crypto Index could see growing demand.

Additional Points to Consider:

Market Diversification: Including altcoins like Solana and Cardano allows investors to benefit from blockchain projects with distinct use cases such as smart contracts, DeFi, and NFTs.
Regulatory Significance: Approval from the SEC could set a precedent, easing the path for future crypto ETFs with broader asset inclusions.
Investor Education: Greater availability of diversified crypto ETFs will likely attract traditional investors who are less familiar with direct crypto trading.
Volatility Management: Index ETFs inherently smooth out extreme price fluctuations, making them a suitable option for risk-averse investors.

Conclusion: A New Chapter for Nasdaq Crypto Index and Altcoin Inclusion

Nasdaq’s filing with the SEC to expand its Crypto Index marks a pivotal moment in the evolution of crypto investment products. By integrating major altcoins like XRP, Solana, Stellar Lumens, and Cardano, the Nasdaq Crypto Index aims to offer a more representative and diversified benchmark for the crypto market’s growing complexity.

With regulatory decisions pending, the landscape remains fluid. However, this move underscores the institutional sector’s confidence in crypto assets beyond Bitcoin and Ethereum and the demand for regulated, multi-asset investment options.

Investors should watch closely how these developments unfold, as they may shape the future trajectory of crypto ETFs and broader market adoption.

Svetlana Petkova publication: "Nasdaq Seeks SEC Approval to Expand Crypto Index, Adding Major Altcoins Like XRP, Solana & Cardano" was written for 24crypto.news