- Nasdaq has proposed adding XRP, Solana, Cardano, and Stellar to its Crypto Index, aiming to expand beyond just Bitcoin and Ethereum.
- If approved by the SEC by November 2025, this move could boost institutional adoption and legitimize key altcoins in traditional finance.
Nasdaq Eyes Major Index Expansion
Nasdaq has officially submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to add four new cryptocurrencies—XRP, Solana (SOL), Cardano (ADA), and Stellar (XLM)—to its flagship Nasdaq Crypto Index (NCI). If approved, this move will expand the index from its current Bitcoin and Ethereum-only composition to a more diverse set of six digital assets.
Filed on June 2, 2025, the rule-change request also aims to update the holdings of the Hashdex Nasdaq Crypto Index US ETF (NCIQ). This ETF currently mirrors only Bitcoin and Ethereum, even though the broader NCI already includes these altcoins. Nasdaq’s move could significantly reduce the ETF’s tracking error and enhance alignment with the underlying index, providing more accurate exposure for investors.
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SEC Ruling Expected by November
The SEC is currently reviewing the proposal under Rule 19b-4, with a decision expected by November 2, 2025. This comes amid growing regulatory clarity—especially for XRP, which received a major boost in April when a federal court reaffirmed that XRP is not a security. This ruling has removed a key legal hurdle that previously dampened institutional interest.
If approved, this change could mark a historic shift in how Wall Street perceives and accesses altcoins, potentially unlocking institutional capital for tokens beyond Bitcoin and Ethereum.
A New Era for Altcoin Legitimacy?
Market experts see this proposal as a turning point for altcoins. Inclusion in a Nasdaq-linked ETF would give XRP, SOL, ADA, and XLM unprecedented exposure to mainstream finance. The move could also spark further innovation in diversified crypto investment vehicles, encouraging more funds to integrate multiple tokens in their portfolios.
Nasdaq’s initiative underscores the growing demand for broader crypto exposure and reflects the evolving maturity of digital assets within traditional financial systems. As the crypto industry awaits the SEC’s verdict, investors and institutions alike are watching closely—because the approval could reshape the altcoin investment landscape for years to come.
