Nasdaq to Add ADA to Crypto Settlement Index – Boost for Cardano
The post Nasdaq to Add ADA to Crypto Settlement Index – Boost for Cardano appeared on BitcoinEthereumNews.com.
If approved, the Hashdex Crypto ETF would gain flexibility to invest in all nine assets, apart from just Bitcoin or Ethereum, on the Nasdaq Crypto Index, including Cardano. Market optimism for Cardano’s ETF approval has surged, with the probability rising to 56%, fueled by regulatory changes. Cardano’s native cryptocurrency ADA is now heading to Wall Street following Nasdaq’s proposed rule change to the U.S. Securities and Exchange Commission (SEC) under Rule 19b-4. Nasdaq is now expanding its benchmark for digital assets with the latest inclusion of altcoins such as Cardano (ADA), Solana (SOL), Ripple’s XRP, and Stellar Lumens (XLM). Nasdaq has announced the reconstitution of its Crypto US Settlement Price Index (NCIUS) to now include Cardano (ADA), as per the SEC filing. The NCIUS serves as the benchmark for the Hashdex Crypto ETF, marking a significant milestone for Cardano’s integration into traditional financial markets. Will Nasdaq Clear Cardano’s Road to Wall Street? This development will further bridge the gap between Cardano and Wall Street, while enhancing the altcoin’s visibility and accessibility to institutional investors. Due to the existing SEC regulation, the Hashdex Crypto ETF can only hold Bitcoin (BTC) and Ethereum (ETH). This restriction creates a tracking error risk, as the ETF aims to mirror an index comprising six assets but invests in just two. To address this mismatch, Hashdex employs a sampling mechanism, though full alignment with the index remains unattainable. The Nasdaq Crypto Index (NCI), which the ETF seeks to replicate, currently includes nine cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Stellar Lumens (XLM), Litecoin (LTC), and Uniswap (UNI). If the US SEC approves the proposal, the ETF would gain the flexibility to invest in all these assets. A final decision is expected by November 2, 2025. Approval would mark a significant milestone,…
Filed under: News - @ June 9, 2025 2:24 pm