Nasdaq Proposes Expansion of Crypto ETF Benchmark, Changes Could Impact Market Performance

The Nasdaq has filed a Form 8-K with the SEC proposing changes to the Hashdex Nasdaq Crypto Index US ETF (NCIQ). This filing proposes expanding the index from five to nine cryptocurrencies by adding XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM), potentially altering the ETF’s current benchmark from the Nasdaq Crypto US Settlement Price Index (NCIUS) to the broader Nasdaq Crypto Index (NCI). The SEC is expected to rule on this proposal by November 2, 2025. 2023 witnessed regulatory hurdles for the Hashdex ETF, which currently holds only Bitcoin and Ethereum but aims to diversify with the new additions.