Hashdex’s Crypto Index ETF Tracking XRP, Solana, And Cardano Gets Regulatory Nod
In a major development, the U.S. Securities and Exchange Commission (SEC) has approved the addition of XRP and Solana, among other cryptocurrencies, to crypto asset management firm Hashdex’s Nasdaq Crypto...
In a major development, the U.S. Securities and Exchange Commission (SEC) has approved the addition of XRP and Solana, among other cryptocurrencies, to crypto asset management firm Hashdex’s Nasdaq Crypto Index US ETF under its new generic listing standards.
The approval comes less than 10 months after Hashdex’s fund, which currently focuses on Bitcoin and Ethereum, first received SEC approval.
Hashdex Adds More Altcoins To Its U.S.-Based Index ETF Holding BTC And ETH
The SEC has greenlighted the proposal by Nasdaq Crypto Index US ETF to hold crypto assets beyond Bitcoin (BTC) and Ethereum (ETH).
https://twitter.com/NateGeraci/status/1971027192256889185
The Hashdex Nasdaq Crypto Index US ETF is designed to track a diversified set of digital assets, giving investors regulated exposure to the crypto market.
Seven specific altcoins, including Solana (SOL), Ripple’s XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI), have now been added to the index ETF.
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Accelerating Approvals
The approval signals how ETF issuers are accelerating planned crypto product rollouts now that US President Donald Trump — who has promised to turn the US into the “world’s crypto capital” — has instructed federal regulators to take a more lenient stance on digital asset regulation.
The Securities and Exchange Commission recently cleared a path for a flood of new crypto exchange-traded products to hit the market after signing off on generic listing standards for “commodity-based trust shares” across regulated exchanges such as the Nasdaq, Cboe BZX, and NYSE Arca.
The regulatory shift marks a watershed for the crypto industry, eliminating much of the procedural drag that has historically delayed getting new crypto products to the market.
The SEC also recently permitted the listing and trading of Grayscale’s Digital Large Cap Fund (GDLC), following an indefinite pause in July.
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