Asset supervisor Hashdex expanded its Crypto Index US exchange-traded fund (ETF) to incorporate XRP (XRP), SOL (SOL) and Stellar (XLM) following the generic itemizing rule change from the Securities and Exchange Commission (SEC).
The Nasdaq inventory exchange-listed ETF now consists of 5 cryptocurrencies held 1:1 by the fund, together with Bitcoin (BTC) and Ether (ETH), and is buying and selling underneath the ticker image NCIQ, based on Thursday’s announcement.
The SEC authorised generic itemizing requirements for ETFs in September, paving the best way for a sooner ETF approval course of for eligible cryptocurrencies.
To qualify for generic itemizing eligibility, a cryptocurrency have to be categorised as a commodity or function futures contracts listed on respected exchanges. Additionally, eligible cryptos have to be topic to monetary surveillance underneath the US Intermarket Surveillance Group.
Market analysts and business executives anticipate a torrent of recent crypto ETF filings because of the new requirements, which is able to give inventory market individuals entry to the crypto markets and blur the road between conventional monetary devices and digital belongings.
Related: SEC itemizing guidelines to spice up crypto ETFs, however no assure of inflows: Bitwise
US SEC begins approving multi-asset crypto ETFs to hasten innovation
The SEC authorised the Grayscale Digital Large Cap Fund, the primary US multi-asset crypto ETF, on Sept. 17. Grayscale’s fund consists of BTC, ETH, XRP, SOL and Cardano (ADA).
SEC Chair Paul Atkins is spearheading efforts to streamline the ETF approval course of for cryptocurrencies as a part of a broader initiative to modernize the monetary system for digital finance.
Atkins not too long ago proposed an “innovation exemption” for crypto firms, a regulatory sandbox that may enable crypto tasks to experiment with new applied sciences with out concern of regulatory reprisal from authorities companies.
The SEC, on the behest of US President Donald Trump’s administration, has issued a collection of statements and coverage proposals in 2025 designed to scale back the regulatory burden on crypto firms — a stark departure from the SEC underneath former Chair Gary Gensler’s management.
These insurance policies embrace ending regulation by enforcement or submitting lawsuits in opposition to tasks with out due discover, crafting complete market construction guidelines for digital belongings and classifying most cryptocurrencies as commodities.
Magazine: SEC’s U-turn on crypto leaves key questions unanswered
