#NasdaqETFUpdate

**Nasdaq Expands Crypto Index: XRP, Solana, Cardano, and Stellar Join the Benchmark**

On June 2, 2025, Nasdaq filed a proposal with the U.S. Securities and Exchange Commission (SEC) to expand the benchmark for the Hashdex Nasdaq Crypto Index US ETF (NCIQ). This expansion aims to include four additional cryptocurrencies: XRP, Solana (SOL), Cardano (ADA), and Stellar (XLM), alongside the existing Bitcoin (BTC) and Ethereum (ETH).

The proposed change would replace the current benchmark, the Nasdaq Crypto US Settlement Price Index (NCIUS), with a more inclusive Nasdaq Crypto Index (NCI). This move reflects Nasdaq's commitment to providing broader exposure to the cryptocurrency market, aligning with the growing institutional interest in digital assets.

However, it's important to note that regulatory limitations currently restrict the ETF from holding these additional assets. As stated in Hashdex’s filing, “Due to existing regulatory limitations, the Fund may only hold Bitcoin and Ethereum.” This creates a divergence between the benchmark's composition and the ETF's holdings, highlighting the ongoing challenges in the regulatory landscape for cryptocurrency investment products.

For investors, this development signifies a potential shift towards more diversified cryptocurrency investment options. If approved, the expanded index could pave the way for ETFs that offer exposure to a broader range of digital assets, catering to the evolving preferences of institutional and retail investors alike.

As of June 10, 2025, the prices of the included cryptocurrencies are as follows:

* **XRP**: \$2.29

* **Solana (SOL)**: \$157.86

* **Cardano (ADA)**: \$0.699

* **Stellar (XLM)**: \$0.274

These developments underscore the dynamic nature of the cryptocurrency market and the ongoing efforts to integrate digital assets into traditional financial frameworks.