SEC's Broader ETF Approval Reflects Evolving Crypto Oversight and Growing Mainstream Adoption

The U.S. Securities and Exchange Commission (SEC) has granted approval for Hashdex’s Nasdaq Crypto Index US ETF (NCIQ) to broaden its benchmark to incorporate Ripple (XRP),

(SOL), and (XLM), in addition to (ADA), (LINK), and (UNI). This decision represents one of the earliest uses of the SEC’s revised generic listing rules for commodity-based trust shares, which are designed to accelerate the approval process for crypto ETFs BitMyCoin, *SEC Approves Hashdex Nasdaq ETF to Include XRP, SOL, and XLM* [ 1 ]. Under these updated guidelines, eligible products may receive approval in as little as 75 days, a notable improvement from the previous average of 270 days CoinSpeaker, *Hashdex Wins SEC Approval for BTC, ETH, XRP, SOL ETF* [ 2 ]. This change highlights increasing regulatory openness to institutional access to altcoins, a trend that has gained momentum following pro-crypto policy shifts after the 2024 U.S. presidential election The Crypto Basic, *SEC Approves Hashdex Nasdaq Crypto ETF to Hold XRP* [ 3 ].

The ETF’s index now tracks nine different cryptocurrencies, with

(BTC) and (ETH) maintaining leading weights of 72.46% and 14.33%, respectively BitMyCoin, *SEC Approves Hashdex Nasdaq ETF to Include XRP, SOL, and XLM* [ 1 ]. , , and currently make up 6.92%, 4.09%, and 0.33% of the portfolio BitMyCoin, *SEC Approves Hashdex Nasdaq ETF to Include XRP, SOL, and XLM* [ 1 ]. However, due to present regulatory limitations, the ETF’s actual holdings are restricted to and . In June 2025, Nasdaq submitted a proposed rule change to officially align the ETF’s holdings with its expanded index, with a decision anticipated by November 2, 2025 TheStreet, *Nasdaq Confirms XRP, SOL, ADA, and XLM in Benchmark Index via New SEC Filing* [ 4 ]. Until then, the fund employs a sampling approach to mirror the index’s returns, which introduces tracking error risk TheStreet, *Nasdaq Confirms XRP, SOL, ADA, and XLM in Benchmark Index via New SEC Filing* [ 4 ].

Recent market data for these newly added assets shows varied short-term trends. XRP is priced at $2.85 with a supply inflation rate of 5.92%, SOL trades at $205.50 after falling 2.22% and is down 30% from its highest value, while XLM is at $0.3634, a 61% drop from its peak BitMyCoin, *SEC Approves Hashdex Nasdaq ETF to Include XRP, SOL, and XLM* [ 1 ]. Despite prevailing bearish sentiment, on-chain activity for these coins has risen, suggesting increased institutional buying. Experts point out that upcoming events—such as Solana’s Alpenglow Consensus upgrade and the launch of XRP’s RLUSD stablecoin—could provide a boost for these tokens in the medium term BitMyCoin, *SEC Approves Hashdex Nasdaq ETF to Include XRP, SOL, and XLM* [ 1 ].

This regulatory development carries wider significance for the cryptocurrency sector. The addition of XRP, SOL, and XLM to the index comes amid a surge in ETF-related activity. For example, the REX-Osprey XRP ETF (XRPR) saw $37.5 million in trading volume on its first day in September 2025 The Crypto Basic, *SEC Approves Hashdex Nasdaq Crypto ETF to Hold XRP* [ 3 ]. Analysts anticipate a wave of spot ETF approvals by October 2025, with several issuers, such as Franklin and 21Shares, moving forward with their applications The Crypto Basic, *SEC Approves Hashdex Nasdaq Crypto ETF to Hold XRP* [ 3 ]. Should the SEC give the green light, it could further encourage institutional participation and liquidity in the altcoin market.

The long-term outlook for these included assets remains strong. XRP’s strategy centers on expanding in the Asia-Pacific region and advancing real-world asset (RWA) tokenization, Solana is developing its ACE framework for global capital markets, and XLM is collaborating with Archax and Visa to build stablecoin infrastructure, all of which highlight their strategic importance BitMyCoin, *SEC Approves Hashdex Nasdaq ETF to Include XRP, SOL, and XLM* [ 1 ]. Institutional interest in these tokens continues to grow, even as short-term volatility persists amid broader market corrections. The SEC’s shifting approach, together with the

ETF’s expanded index, points to a more mature regulatory landscape that could help establish crypto as a mainstream investment class BitMyCoin, *SEC Approves Hashdex Nasdaq ETF to Include XRP, SOL, and XLM* [ 1 ].