- The Nasdaq Index has now added Cardano, demonstrating the increasing institutional interest in this cryptoasset
- The SEC's decision on expanding the Cryptoasset ETF portfolio is expected in November 2025, promising to enhance portfolio diversification
Cardano (ADA) has dropped over 10% in just one week, making it one of the largest market losers. However, the project is still witnessing a resurgence of interest from institutional investors.
New Milestone: Cardano Added to Nasdaq Index
Despite market volatility and weak investment sentiment, Cardano has just established an important milestone that has caught the attention of financial institutions.
According to Cardanians, a prominent community account on X, Cardano's addition to Nasdaq's Crypto US Settlement Price Index (NCIUS) is a significant step, opening up Wall Street possibilities for ADA, the 10th largest cryptoasset by market capitalization.
Nasdaq has officially restructured the Crypto US Settlement Price Index (NCIUS) to include Cardano (ADA). This index is now a benchmark for the Hashdex Crypto ETF, marking a breakthrough that brings Cardano closer to traditional and Wall Street markets.
Community Reaction and ADA Price Movement
The cryptoasset community welcomed this good news, but ADA's price movement went in the opposite direction, dropping to $0.6647 at the time of update.
Notably, this move marks an expanded recognition for digital assets as Cardano, Solana (SOL), Stellar, and XRP have appeared on the standard index alongside Bitcoin (BTC) and Ethereum (ETH).
This expansion demonstrates the market's maturity and widespread acceptance of cryptoassets, although currently the Hashdex Nasdaq Crypto Index U.S. ETF is only permitted to hold BTC and ETH under the current legal framework.
New Direction: A Step Towards Crypto Asset Diversification
As the ETF awaits SEC approval for proposed regulation changes, adding these assets to the index is a leverage to promote diversification, opening opportunities to increase cryptoasset accessibility in traditional investment vehicles.
This move coincides with Nasdaq's submission of a proposal to the SEC to expand the Hashdex Nasdaq Crypto Index U.S. ETF from NCIUS to the Nasdaq Crypto Index (NCI).
If approved, the proposal would allow this ETF to hold up to 9 cryptoassets, including: Bitcoin, Ethereum, Cardano, XRP, Solana, Chainlink, Litecoin, Stellar, and Uniswap.
The SEC is expected to make a decision on this proposal on 2/11/2025, promising to expand diversification and facilitate deeper investor access to the cryptoasset ETF market.
