Nasdaq’s proposal to expand its crypto index from 5 to 9 assets, adding $XRP, $SOL, $ADA, and $XLM, reflects a strategic shift to mirror the growing diversity of the cryptocurrency market, building on the SEC-approved Hashdex Nasdaq Crypto Index US ETF (NCIQ) launched in December 2024, which initially tracked only Bitcoin and Ethereum.
The SEC’s decision deadline of November 2, 2025, hinges on regulatory debates over altcoin inclusion, with historical resistance evident from SEC Chair Gary Gensler’s 2024 warnings about crypto risks, yet a 2023 court ruling forced approval of Bitcoin ETFs, suggesting potential legal pressure could sway this outcome.
Data from CryptoTimes.io (June 2025) indicates XRP’s price rose 3.1% and Solana’s by 0.2% post-announcement, hinting at early market optimism, though peer-reviewed studies like those in the Journal of Financial Economics (2022) caution that ETF approvals often lead to short-term volatility rather than sustained growth.
