Hashdex has increased its Crypto Index US ETF (ticker: NCIQ) to include XRP, Solana (SOL), and Stellar (XLM). They added these three on top of Bitcoin and Ether, in response to a new regulatory modification by the SEC. This multi-asset ETF offers US investors exposure to five primary cryptocurrencies, which are held in a 1:1 ratio by the fund.
The SEC's general listing approval rules have resulted in speedier access and easier listing for qualifying crypto ETFs, bridging traditional finance and digital assets. To qualify, cryptocurrencies must be commodities or have futures contracts and be subject to rigorous market surveillance. NCIQ follows the Nasdaq Crypto US Index, which has tight liquidity, market capitalization, and regulatory compliance requirements. The fund attempts to simplify cryptocurrency trading by offering diversified exposure through a single product, eliminating the need for investors to select specific tokens.
SEC Chair Paul Atkins welcomes this approach and has recommended additional regulatory relief, such as an innovation exemption, to encourage the growth of cryptocurrency projects. This represents a departure from the previous, more strict regulation under former Chair Gary Gensler.
