XRP Added to Nasdaq Crypto US Settlement Price Index: A Game Changer for Institutional Adoption
On June 6, Ripple’s XRP made its debut in the prestigious Nasdaq Crypto US Settlement Price Index (NCIUS), marking a key milestone in the journey towards mainstream institutional adoption of digital assets. This development signals a new phase in market expansion and could dramatically reshape the landscape of cryptocurrency investments.
Nasdaq Index Redesign Includes XRP
On June 2, 2025, the Nasdaq Crypto US Settlement Price Index underwent a major update, expanding its composition to include four additional cryptocurrencies: XRP (XRP), Cardano (ADA), Solana (SOL), and Stellar Lumens (XLM). This reconfiguration was highlighted in a filing with the U.S. Securities and Exchange Commission (SEC), which detailed how the Nasdaq would be broadening its scope beyond Bitcoin (BTC) and Ethereum (ETH) to reflect a more diverse range of digital assets. XRP, once considered an outlier due to its regulatory battles, has now solidified its place in the mainstream.
Impact of the Inclusion of XRP
The addition of XRP to the Nasdaq Crypto US Settlement Price Index is significant for multiple reasons. It not only validates XRP’s role as a leading cryptocurrency but also demonstrates growing confidence in its legal status and market performance. For institutional investors, this is a monumental step toward legitimizing XRP, opening doors to potential institutional investment, and paving the way for XRP’s inclusion in other prominent indices.
Nasdaq’s ETF Update
The Hashdex Nasdaq Crypto Index US ETF, which tracks the NCIUS, will now reflect this new mix of cryptocurrencies, providing exposure to XRP alongside BTC and ETH. However, due to regulatory constraints, the ETF is currently restricted to holding only Bitcoin and Ethereum. This means that while the ETF will be benchmarked to the updated index, it will not immediately hold the newly added assets, creating potential tracking errors and performance divergence.
The SEC filing acknowledged this discrepancy and highlighted the risk of “increased tracking error” as a result of the exclusion of ADA, SOL, XLM, and XRP from the ETF’s holdings.
Regulatory Implications and Future Outlook
The filing also referenced a separate proposal submitted by Nasdaq to the SEC on March 7, 2024, which seeks permission for the Hashdex ETF to adopt the expanded Nasdaq Crypto Index (NCI). This index includes a broader range of digital assets, including XRP, Solana, Cardano, and others. If approved by the SEC, the ETF would be allowed to hold all the assets from the revised index, further broadening its scope and appeal to institutional investors.
A final decision from the SEC is expected by November 2, 2025. Should the regulatory body approve the change, the ETF would be authorized to hold all constituents of the index, including XRP, and would no longer be subject to the risk of tracking error due to regulatory limitations.
What This Means for the Market
XRP’s inclusion in the Nasdaq Crypto US Settlement Price Index is more than just a technical adjustment; it is a clear signal that cryptocurrencies are becoming increasingly accepted in traditional financial markets. This move also underscores the growing influence of the Nasdaq and its role in providing a framework for regulated exposure to digital assets.
For XRP holders, this is undoubtedly a big win. It represents the ongoing maturation of the digital asset space and its integration into the global financial ecosystem. As the SEC continues to deliberate on the approval of broader ETF holdings, market participants can expect increased interest and investment in XRP and other newly incorporated assets like Cardano and Solana.
The future of XRP looks brighter than ever, with potential mainstream adoption on the horizon, and this Nasdaq development could be just the beginning of more institutional-level recognition.