XRP Added to Nasdaq Crypto US Settlement Price Index, Boosting Institutional Adoption
XRP has been added to the Nasdaq Crypto US Settlement Price Index, marking a critical point for institutional adoption. The updated index includes BTC, ETH, and additional assets like ADA, SOL, XLM, and XRP. However, regulatory limitations prevent the Hashdex ETF from fully replicating this change, raising tracking error concerns. Meanwhile, the SEC is set to consider further adjustments, and broader market reactions are anticipated.
XRP has made a significant move by being included in the Nasdaq Crypto US Settlement Price Index, a step that many experts are seeing as vital for institutional adoption of cryptocurrencies. This is indicative of a shift that might propel the market into previously uncharted territory. The announcement of XRP’s inclusion comes as part of a broader update to Nasdaq’s index system.
On June 6, the Hashdex Nasdaq Crypto Index US ETF filed for an update with the U.S. Securities and Exchange Commission (SEC). This update stated that as of June 2, 2025, the Nasdaq Crypto US Settlement Price Index (NCIUS) will no longer just comprise of Bitcoin (BTC) and Ethereum (ETH) but will now also include four more digital assets: Cardano (ADA), Solana (SOL), Stellar Lumens (XLM) and of course, XRP. This expansion in the index may seem promising for market diversity.
However, there’s a catch. Even with this broader index, current regulations prevent the Hashdex ETF from holding any cryptocurrencies outside the original BTC and ETH. This creates a situation where the ETF, while being linked to an expanded index, cannot fully align itself with it. The potential for performance divergence could cause headaches for investors, as they’d be faced with risks of tracking errors. In the SEC filing, it was clearly stated that the ETF’s current restrictions increase tracking error risks due to the exclusion of new index constituents.
Nasdaq has also taken steps to address this by submitting a proposed rule change to the SEC back in March. This proposal seeks permission for the ETF to adopt the new Nasdaq Crypto Index (NCI) as its benchmark. This new index includes all previously mentioned cryptocurrencies (BTC, ETH, XRP, SOL, ADA, and XLM), along with LINK, LTC, and UNI. Should the SEC give its approval, it would allow the ETF to hold all the assets in the expanded index. A final ruling from the SEC is anticipated by November 2, 2025.
Looking at the bigger picture, tensions are brewing in Europe where regulators are working on guidelines that might potentially criminalize Bitcoin transactions altogether. Meanwhile, Ripple has positioned XRP and its planned RLUSD stablecoin as robust alternatives designed to replace the aging SWIFT payment system. In the United States, figures such as Coinbase’s CEO and Tesla’s Elon Musk have warned about the potential for Bitcoin to take over as a preferred currency alternative due to growing national debt.
In terms of the crypto market and its products, Rex Shares has filed with the SEC for Ethereum- and Solana-staking ETFs, in a move that many believe could lead to the green-lighting of yield-generating crypto funds soon. Additionally, Circle Internet Financial made a splash during its NYSE debut, climbing more than 150% on its first day, which indicates a strong appetite for stablecoins in the current market.
It seems the cryptocurrency landscape is shifting rapidly — with new developments weaving through regulatory challenges, market expansions, and an eye towards replacing traditional financial systems. Enthusiasts await the next steps in a rapidly evolving digital currency framework.
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