XRP Joins Nasdaq’s Crypto Index — A Big Step Toward Institutional Recognition

XRP has officially been added to the Nasdaq Crypto US Settlement Price Index (NCIUS), signaling a major leap toward mainstream and institutional adoption. This move expands the index’s scope and opens new doors for market exposure and legitimacy.

🔄 Index Update: XRP Among New Entrants

On June 6, 2025, the Hashdex Nasdaq Crypto Index US ETF (NCIQ) filed an updated statement with the U.S. Securities and Exchange Commission (SEC). The document outlined a recent adjustment made by Nasdaq Inc. to its crypto settlement index as of June 2.

Previously limited to Bitcoin (BTC) and Ethereum (ETH), the index now includes XRP, along with Cardano (ADA), Solana (SOL), and Stellar Lumens (XLM) — expanding its digital asset base significantly.

Performance Impact on the ETF

Although the index has evolved, the ETF itself remains constrained by regulatory boundaries. Current SEC rules only allow the ETF to hold BTC and ETH — not the newly added assets. This limitation introduces a tracking mismatch, as the fund cannot fully replicate the index’s performance.

The SEC filing makes this clear:

“Due to regulatory restrictions, the Trust may only hold Bitcoin and Ether, and cannot include the newly added assets — increasing the potential for tracking error.”

🧾 Future Outlook: Full Index Replication?

Nasdaq also submitted a separate rule change request on March 7, asking the SEC to authorize the ETF to follow the broader Nasdaq Crypto Index (NCI) — which includes additional tokens such as XRP, ADA, SOL, XLM, Chainlink (LINK), Litecoin (LTC), and Uniswap (UNI).

If approved, this change would enable the ETF to hold all assets in the NCI, aligning its holdings with the benchmark and reducing tracking discrepancies. The SEC is expected to issue a final decision by November 2, 2025.

🟢 Key Takeaway:

The inclusion of XRP in both the NCIUS and NCI indexes marks a turning point for institutional interest in altcoins. While regulatory hurdles remain, this development paves the way for broader crypto adoption in regulated financial products.