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The U.S. Securities and Exchange Commission (SEC) has approved Hashdex’s request to expand its Nasdaq Crypto Index ETF, allowing the fund to include Ripple’s XRP and Solana’s SOL alongside its existing Bitcoin and Ethereum holdings.
This move brings the ETF in line with the broader Nasdaq Crypto Index and signals a significant step toward diversifying institutional exposure to digital assets.
The updated portfolio will allocate 72.5% to Bitcoin, 14.8% to Ethereum, 6.9% to XRP, 4.3% to Solana, and 1.2% to Cardano. While Bitcoin and Ethereum remain dominant, the inclusion of altcoins marks a shift toward acknowledging their growing relevance in the market.
The approval comes under the SEC’s newly implemented generic listing standards for commodity-based trust shares. This framework streamlines the once lengthy process for launching crypto ETFs, reducing timelines from as much as 270 days to just 75. The rule change is already prompting a wave of new filings, with asset managers like Amplify ETFs submitting applications for Solana and XRP-focused funds.
Nate Geraci, president of The ETF Store, confirmed on X that the Hashdex Nasdaq Crypto Index US ETF has been approved under the new standards. He noted the fund will now be able to own crypto assets beyond Bitcoin and Ethereum, including XRP, Solana, and Stellar.
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The rule change is already prompting a wave of new filings, with asset managers like Amplify ETFs submitting applications for Solana and XRP-focused funds. The move also follows the SEC’s approval of Grayscale’s Ethereum ETF earlier this week, underscoring a broader regulatory push to provide clarity for digital asset products.
By including XRP and Solana, Hashdex’s ETF could broaden institutional adoption of altcoins that have historically struggled to gain mainstream recognition compared with Bitcoin and Ethereum. The approval signals the regulator’s willingness to adapt to a more dynamic digital asset landscape, while also positioning the United States as a contender for global leadership in crypto finance.
Industry observers will be watching closely to see whether the streamlined rules accelerate the rollout of new crypto ETFs and whether the expanded offerings bring fresh capital inflows into XRP and Solana markets.
In an earlier report, we noted that Eric Balchunas calls ETFs 'tokens with benefits', stirring debate.