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Nasdaq Expands Crypto Index to Include XRP, SOL, ADA, and More

In a notable development for the digital asset industry, Nasdaq has filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) to expand the Nasdaq Crypto Index (NCI). The move aims to provide broader market exposure for digital asset ETFs in the U.S.

As part of this update, Nasdaq has added XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM) to its crypto benchmarks. These assets are now part of the Nasdaq Crypto US Settlement Price Index (NCIUS), alongside Bitcoin (BTC) and Ethereum (ETH)—bringing the total number of tracked coins to six.

This index is currently tracked by the Hashdex Nasdaq Crypto Index US ETF (NCIQ), which uses a sampling method to manage tracking differences. However, due to current SEC restrictions, the ETF is only allowed to invest in BTC and ETH. This results in a tracking error, as the fund is benchmarked against an index that includes more assets than it holds.

Nasdaq’s broader NCI benchmark now includes nine digital assets:

BTC

ETH

XRP

SOL

ADA

XLM

Chainlink (LINK)

Litecoin (LTC)

Uniswap (UNI)

If the SEC approves the proposal by its November 2, 2025 deadline, the Hashdex ETF would be permitted to invest in all these assets. Such approval would signal increased flexibility and diversification in U.S.-based crypto investment products.

Stay tuned as this decision could shape the future of crypto ETFs in traditional finance.

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