In a significant regulatory breakthrough, XRP has officially joined a Nasdaq-listed multi-asset spot crypto exchange-traded fund (ETF) in the United States, marking a new chapter for diversified digital asset investment vehicles.
SEC Approves Generic Listing Standards for Broader Crypto Inclusion
Hashdex Asset Management Ltd. announced on Sept. 25 that its Hashdex Nasdaq Crypto Index US ETF (ticker: NCIQ) has expanded under the U.S. Securities and Exchange Commission's (SEC) generic listing standards. Initially launched in February 2025 with only spot Bitcoin and Ether, the ETF now qualifies to hold additional crypto assets that are constituents of the Nasdaq Crypto US Settlement Price Index (NCIUSS). The SEC approved the ETF for listing and trading on Dec. 19, 2024, and the shift to a generic framework reflects a regulatory evolution aimed at widening investor access.
According to Hashdex, “NCIQ will now provide exposure to spot Bitcoin, Ether, XRP, Solana, and Stellar—representing over $3 trillion in combined market capitalization—through a single, tradable product.” This makes it the first multi-asset spot crypto ETP in the United States. Marcelo Sampaio, co-founder and CEO of Hashdex, emphasized: “Since 2018, Hashdex has been a market leader in crypto index products globally, and this signifies a major milestone in meeting the needs of U.S. advisors and investors looking to participate in the continued evolution of the crypto ecosystem.” He added gratitude for the partnership with Nasdaq Global Indexes.
Fund Composition and Custody Arrangements
SEC filings clarify that the Trust will track Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Stellar Lumens (XLM), and XRP (XRP), subject to quarterly rebalancing and potential additions of new index constituents. The custody is handled by Coinbase Custody and Bitgo Trust, with U.S. Bank Global Fund Services as administrator and Nasdaq overseeing the index and listing. This infrastructure highlights how U.S. rules are adapting to accommodate diversified digital asset products.
Earlier, the SEC also approved the Grayscale Coindesk Crypto 5 ETF (GDLC), which offers exposure to Bitcoin, Ethereum, XRP, Solana, and Cardano. The simultaneous approvals signal a more favorable regulatory stance toward multi-asset crypto ETPs.
Market Impact and Broader Implications
The inclusion of XRP is particularly noteworthy given the previous legal uncertainty surrounding the asset. Ripple's partial victory in its SEC lawsuit paved the way for XRP to be recognized as a digital commodity in certain contexts, and its entry into a Nasdaq-listed ETF provides a strong validation for institutional adoption. Following the news, XRP's price rallied approximately 5%, while Solana and Stellar also posted gains.
The Hashdex ETF now offers investors a one-ticket exposure to the top five digital assets by market cap (excluding stablecoins), reducing the complexity of managing multiple wallets and exchange accounts. As the SEC continues to refine its framework, more altcoins are expected to qualify for inclusion in such products, further bridging the gap between traditional finance and the crypto ecosystem.