The recent important measures taken by Nasdaq to promote the expansion of the cryptocurrency market have attracted attention. According to information disclosed on June 9, 2025, Nasdaq has submitted a rule change application to the U.S. Securities and Exchange Commission (SEC) to expand its cryptocurrency benchmark index from the original 5 assets to 9, adding XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM). This expansion involves the transition of the Nasdaq Cryptocurrency Index U.S. Settlement Price Index (NCIUS) to the broader Nasdaq Cryptocurrency Index (NCI), aiming to provide more comprehensive underlying asset support for its Hashdex Nasdaq Cryptocurrency Index ETF (NCIQ).

Currently, the NCIQ ETF is only allowed to hold Bitcoin (BTC) and Ethereum (ETH), but if the SEC approves the proposal, the ETF will be able to invest in all 9 tokens, including the four newly added mainstream assets. The SEC is expected to make a final decision by November 2, 2025. This adjustment marks an increase in institutional recognition of cryptocurrencies, which may drive the diversification of cryptocurrency ETFs in the U.S., while laying the foundation for the deep integration of traditional financial markets and crypto assets. It is worth noting that Nasdaq has previously launched multiple cryptocurrency-related financial products and continues to explore optimization of the regulatory framework. This expansion may become a key turning point in the institutionalization process of the cryptocurrency market.