XRP, Solana, Cardano Could Join Nasdaq’s Crypto Index
Nasdaq has filed a proposed rule change with the US Securities and Exchange Commission (SEC) to expand its benchmark Nasdaq Crypto Index (NCI) to include Ripple (XRP), Solana (SOL), Cardano (ADA) and Stellar Lumens (XLM).
The June 2 Form 8-K filing with the SEC, if approved, will see the altcoins tracked in the NCI alongside crypto market leaders Bitcoin (BTC) and Ethereum (ETH), as well as other altcoins such as Chainlink (LINK), Litecoin (LTC) and Uniswap (UNI).
Proposed Rule Change Could Address Existing Tracking Issue
If the rule change is approved, it will also address a current tracking issue between the NCI and the Hasdex Nasdaq Crypto Index US ETF (NCIQ).
The latter is designed to track the NCI, but instead tracks the US-compliant Nasdaq Crypto US Settlement Price Index (NCIUS) that only includes Bitcoin and Ethereum due to regulatory constraints. This creates a mismatch in performance between the NCI and NCIQ.
If the proposal gets the greenlight, it will eliminate the tracking issue and performance mismatch by allowing the NCIQ to track the full NCI, essentially making the NCI a more diverse ETF that tracks 9 coins instead of just BTC and ETH.
A final determination regarding the rule change is expected from the SEC by Nov. 2, 2025 following a period for public comments and regulatory review.
Prices Barely React To The News
The news had little effect on the XRP price, which edged up a fraction of a percentage in the last 24 hours to trade at $2.22 as of 2:34 a.m. EST, according to CoinMarketCap.
Similarly, SOL managed a slight gain in the past 24 hours, while XLM and ADA both recorded minor decreases in their respective prices during the same period.
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