According to a filing with the U.S. Securities and Exchange Commission on Monday, Hashdex has requested approval for an amendment that would enable the digital asset manager to incorporate XRP, Solana, Cardano, and other major altcoins into its Hashdex Nasdaq Crypto Index US ETF (NCIQ).
Hashdex’s Amendment
Hashdex, a crypto asset manager, has submitted an amendment to the U.S. Securities and Exchange Commission (SEC) requesting approval to add several major altcoins like SOL SOL and XRP XRP, along with other cryptocurrencies, to its Nasdaq Crypto Index US ETF. The proposal also includes Cardano’s ADA ADA, Litecoin’s LTC LTC, and other altcoins such as LINK LINK, AVAX AVAX, and UNI UNI. Currently, the fund primarily holds Bitcoin (BTC) with some exposure to Ether (ETH).
The proposal aims to offer broader cryptocurrency market exposure to investors, especially traditional finance investors and traders.
Learn more: XRP Price Prediction
Global Market Context
Hashdex is capitalizing on the growing cryptocurrency market after recently receiving approval for the first XRP ETF in Brazil in December 2024. At the same time, the fund faces complex regulatory challenges from the SEC. Filing an amendment under the Securities Act of 1933 is part of Hashdex’s long-term strategy to expand its product offerings, meet investor demand, and build on its past successes.
However, adding altcoins to the fund may increase the complexity of securing SEC approval. This agency often requires additional data on liquidity, stability, and resistance to manipulation for assets like Solana, XRP, and others. Nevertheless, the success of Bitcoin ETFs has set a positive precedent, giving Hashdex a greater opportunity to achieve its goal.
Source: Mining Store Australia
