The Nasdaq cryptocurrency ETF expansion plan marks the acceleration of the institutionalization process for altcoins. The SEC has approved the inclusion of its cryptocurrency index to include eight mainstream altcoins such as SOL, ADA, and XRP, addressing the pricing compliance issues and encouraging institutions like Fidelity to submit related ETF applications. Hashdex also plans to expand ETF assets from BTC and ETH to include SOL and XRP, enhancing diversification. This move could potentially increase the market capitalization share of altcoins to 30%, but caution is needed regarding high volatility and regulatory risks. Institutional liquidity support (such as Citadel's $1 billion market making) may further stabilize the market.