XRP and four other altcoins were included in the Hashdex Nasdaq Crypto Index US ETF, marking an important step in diversifying the digital asset portfolio in the US market.
The US digital asset exchange-traded product (ETF) market has seen a significant development when XRP was officially included in the portfolio of Hashdex Nasdaq Crypto Index US ETF (ticker: NCIQ). This move comes in the context of the US Securities and Exchange Commission (SEC) applying a new legal framework that allows expanding the scope of digital assets eligible to participate in ETF products.
Hashdex Asset Management Ltd. announced on September 25 the expansion of NCIQ, described as “the first multi-asset crypto spot ETP in the U.S.” The ETF, which launched in February with an initial portfolio of only Bitcoin and Ethereum, has now been regulated to operate under the SEC’s general listing standards.
According to the official announcement, NCIQ now offers access to five of the largest digital assets including Bitcoin, Ethereum, XRP, Solana , and Stellar, representing a total market Capital of over $3 trillion. This integration allows investors to access a variety of digital assets through a single trading product.
New legal framework paves the way for diversification
Marcelo Sampaio, co-founder and CEO of Hashdex, highlighted the groundbreaking nature of this move in the development of the digital asset industry. He said the expansion of NCIQ meets the growing demand from US financial advisors and investors who want to participate in the growing crypto asset ecosystem.
The SEC filing clarifies that under the new general listing rules, the trust is permitted to hold additional crypto assets that are components of the Nasdaq Crypto US Settlement Price Index (NCIUSS). Accordingly, the ETF will rebalance its portfolio quarterly and may add other index components subject to the index methodology and eligibility criteria.
NCIQ's operating structure is designed with a highly secure system, in which Coinbase Custody and Bitgo Trust provide asset custody services, US Bank Global Fund Services takes on the Vai of administrator, and Nasdaq is in charge of index management as well as listing supervision.
This development reflects a positive trend in US digital asset regulation, as the SEC is gradually opening up to diversified investment products. A similar move is also reflected in the approval of the Grayscale Coindesk Crypto 5 ETF, another multi-asset crypto spot ETP product that provides exposure to Bitcoin, Ethereum, XRP, Solana , and Cardano, indicating that the digital asset ETF market is entering a mature phase with increasing diversification.
