Golden Finance reported that according to Cryptotimes, Nasdaq filed an application for rule changes with the U.S. Securities and Exchange Commission (SEC) on June 7. It is planned to incorporate XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM) into its crypto index benchmark.
This adjustment mainly involves the Hashdex Nasdaq Crypto Index ETF (NCIQ). Currently, NCIQ tracks the Nasdaq Crypto US Settlement Price Index (NCIUS). According to the latest application, the ETF plans to expand its tracking target to the Nasdaq CryptoIndex (NCI), which covers nine tokens.
At present, although the NCI index already includes nine cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), due to the current regulatory restrictions of the SEC, this ETF, NCIQ, can only hold BTC and ETH. This leads to a tracking error risk when it tracks the performance of the NCI index. Once this application is approved, NCIQ will be allowed to invest in all NCI index component assets, which will undoubtedly significantly enhance the accuracy of its index tracking.
The SEC usually conducts strict reviews of such rule change applications. According to the process, the SEC is expected to make a final decision on the application submitted by Nasdaq this time before November 2, 2025. If the SEC approves the application, it will be a significant milestone in the US crypto ETF sector, taking a crucial step towards diversified investment in US crypto ETFs and providing investors with a more diverse range of cryptocurrency investment options. This move will not only affect the investment strategy and market performance of NCIQ, but also may prompt other crypto index funds and ETFs to follow suit, prompting profound changes in the landscape of the entire US crypto investment market.
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