Cardano was officially added to the Nasdaq Crypto U.S. Settlement Price Index effective June 2, 2025, boosting its institutional exposure.
The ETF tied to the index still holds only Bitcoin and Ethereum due to listing restrictions, despite broader index composition.
Nasdaq filed a rule change with the SEC in March 2025 to allow ETF expansion; a final decision is expected by November 2, 2025.
Cardano has been officially included in the Nasdaq Crypto U.S. Settlement Price Index, known as NCIUS. The update, effective June 2, 2025, follows Nasdaq’s reconstitution of the index. This move strengthens Cardano’s visibility among institutional investors, particularly in the United States market.
Now, the revised index follows six cryptocurrencies. Before, NCIUS only followed Bitcoin and Ethereum, but it now keeps an eye on Cardano (ADA), Solana (SOL), XRP, and Stellar (XLM). The Hashdex Nasdaq Crypto Index U.S. ETF uses the NCIUS as the main standard. The addition demonstrates that institutions are recognizing the place of additional digital assets.
ETF Still Limited to Bitcoin and Ethereum
Despite the index expansion, the Hashdex Nasdaq Crypto Index U.S. ETF remains restricted to holding only Bitcoin and Ethereum. This limitation is due to its currently approved listing rule, which does not allow the fund to directly invest in other digital assets. Nasdaq and Hashdex are actively seeking regulatory changes to address this restriction.
https://twitter.com/Cardanians_io/status/1931499014744395833
Nasdaq turned in a proposal for a new rule to the SEC on March 7, 2025. The document asks the board to agree on including more assets in the ETF’s holdings apart from Bitcoin and Ethereum. If the ETF receives approval, it would use the broader Nasdaq Crypto Index (NCI), which has nine cryptocurrencies in it, for example, ADA, SOL, XRP, LINK, LTC, UNI, and XLM.
SEC Decision Expected by November 2025
The SEC is currently reviewing the proposed rule change. A decision is scheduled to be announced no later than November 2, 2025. Approval would mark a shift in the ETF's structure and could significantly increase exposure for the newly included assets in the index.
The Cardano community have responded positively, and major social channels have noted that the update brings Cardano another step toward adoption on the mainstream market. People are keeping an eye on the cryptocurrency market, especially as more institutions are interested in having various forms of crypto.
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