Nasdaq Crypto Index Goes Big: Adds Four Hot Altcoins, But Will SEC Say Yes?

Nasdaq's Crypto Index Shakes Things Up!

The Nasdaq Crypto Index just got a major glow-up, expanding from a tight five to a bold nine digital assets. We're talking about the addition of Ripple (XRP), Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM) to the mix. Before this shake-up, the index was all about Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Chainlink (LINK), and Uniswap (UNI). Talk about a lineup change!

Hashdex NCIQ ETF's Fate Hangs in the Balance

This revamped index is the golden standard for the Hashdex Nasdaq Crypto Index US ETF. But here's the kicker: right now, the NCIQ ETF can't touch those shiny new assets thanks to some tight SEC rules. It's stuck with just Bitcoin and Ethereum in its portfolio.

Nasdaq ISE's Bold Move: Awaiting SEC's Nod

But wait, there's a twist! Nasdaq ISE, LLC threw their hat in the ring with a rule change proposal filed with the SEC on March 7. If the SEC gives the green light, the NCIQ ETF could finally spread its wings and dive into those fresh altcoins. The clock's ticking, with the SEC needing to make a call by November 2 this year.

Hashdex's Clever Workaround: But at What Cost?

Until then, Hashdex isn't sitting still. They're using a slick sampling strategy, juggling Bitcoin and Ethereum to try and mirror the expanded index's performance. But there's a catch: this approach could lead to a tracking error, where the ETF's returns might not sync up perfectly with the index it's chasing.

NCIQ ETF: Your Gateway to Crypto Diversity

The Hashdex Nasdaq Crypto Index US ETF isn't just any fund; it's a regulated beast designed to give investors a taste of the diverse crypto market. The SEC gave it the thumbs up back in December last year, letting it hit the Nasdaq with a focus on Bitcoin and Ethereum.

Hashdex's Global Ambitions: Brazil's XRP ETF

And let's not forget Hashdex's big move earlier this year. They got the green light from Brazil's securities watchdog to launch the world's first XRP spot ETF, the Hashdex Nasdaq XRP Index Fund. It's set to make waves on the B3 stock exchange. Now that's what I call global reach!