#纳斯达克加密ETF扩容 1. Core Content of Expansion

Nasdaq submitted a rule change application to the SEC, planning to include tokens such as XRP, SOL, ADA, and XLM in its cryptocurrency index benchmark, expanding the assets from BTC and ETH to cover 9 cryptocurrencies. If approved, the Hashdex Nasdaq Cryptocurrency Index ETF (NCIQ) will be able to hold all component tokens, significantly reducing tracking error and attracting more institutional funds into the market.

2. Market Impact

Institutional Fund Absorption Effect: Referring to the historical performance of Bitcoin ETFs, inclusion in mainstream indexes typically triggers passive allocation demand. New tokens like SOL and ADA may experience a liquidity explosion, especially Solana, which has gained institutional support due to its high performance (50,000 TPS, low fees) and ecosystem activity (an average of 34.69 million addresses per week).

Diversification Investment Trend: The expansion covers DeFi (such as DEXE) and NFT (such as SHELL) tokens for the first time, indicating that traditional capital is accelerating its layout in the cryptocurrency niche sectors.

3. Risks and Challenges

Policy Uncertainty: The final approval result from the SEC (expected by November 2, 2025) still has variables; delays or rejections may trigger market volatility.

Market Volatility Risk: The high volatility characteristics of cryptocurrency assets remain unchanged, and vigilance is needed for significant whale sell-off pressure (such as a recent address transferring nearly 5,000 ETH to an exchange) and fluctuating market sentiment.

Summary

This expansion signifies the accelerated integration of cryptocurrency assets into the traditional financial system, with mainstream coins like SOL and ADA potentially being the biggest beneficiaries. However, investors need to pay attention to policy nodes and changes in market liquidity, positioning quality assets during pullbacks while diversifying allocations to reduce risk.