In a major development for XRP and the broader crypto market, XRP has been added to the Nasdaq Crypto US Settlement Price Index (NCIUS), marking a key milestone toward greater institutional acceptance. This update reflects the growing recognition of XRP as a significant digital asset and opens new doors for market growth and expansion.
The Nasdaq Crypto US Settlement Price Index is a benchmark index created by Nasdaq Inc. to track the prices of leading cryptocurrencies traded in the U.S. It serves as a reference for various financial products, such as exchange-traded funds (ETFs), providing regulated exposure to the crypto market. Originally, this index only included Bitcoin (BTC) and Ethereum (ETH), the two biggest cryptocurrencies by market cap.
However, in a recent update, Nasdaq expanded the index to include four additional digital assets—Cardano (ADA), Solana (SOL), Stellar Lumens (XLM), and XRP. This broader index better represents the growing diversity and maturity of the crypto ecosystem.
XRP’s inclusion in the Nasdaq index on June 2, 2025, signifies a substantial move towards institutional adoption. By joining this prominent benchmark, XRP gains increased visibility among institutional investors, asset managers, and traders who rely on such indices to gauge market performance.
Institutional involvement often leads to greater market stability and liquidity, as professional investors bring more capital and longer-term perspectives. For XRP holders, this could mean stronger demand and more recognition as a serious crypto asset beyond retail traders.
The Hashdex Nasdaq Crypto Index US ETF, trading under the ticker symbol NCIQ, tracks this Nasdaq Crypto US Settlement Price Index. This ETF offers investors a regulated way to gain exposure to cryptocurrencies, primarily Bitcoin and Ethereum, by holding them directly.
However, there is a current regulatory limitation set by the U.S. Securities and Exchange Commission (SEC) that restricts this ETF to holding only BTC and ETH. Despite the expanded index now including XRP and other tokens, the ETF cannot hold these additional assets at this time. This creates a mismatch between the ETF’s holdings and the broader index it tracks.
Because of this, investors in the ETF might experience what’s called “tracking error.” Tracking error happens when the ETF’s performance deviates from the underlying index due to differences in the assets it holds. In this case, since the ETF does not hold XRP or the other new index coins, its returns may not fully match the updated index’s performance.
Nasdaq is actively working to address this discrepancy. On March 7, 2025, Nasdaq submitted a rule change proposal to the SEC to allow the Hashdex ETF to adopt the broader Nasdaq Crypto Index (NCI) as its official benchmark. The NCI includes BTC, ETH, XRP, SOL, ADA, XLM, and several other major cryptocurrencies like Chainlink (LINK), Litecoin (LTC), and Uniswap (UNI).
If approved by the SEC, this change would authorize the ETF to hold all these cryptocurrencies, including XRP, aligning the fund’s holdings with the index. This would reduce tracking error and provide investors with more comprehensive exposure to the crypto market.
The SEC’s decision on this proposal is expected by November 2, 2025. Until then, the ETF will continue to hold only Bitcoin and Ethereum, limiting its ability to fully reflect the updated index.
XRP’s addition to the Nasdaq Crypto US Settlement Price Index reflects growing institutional interest and the evolving regulatory landscape surrounding cryptocurrencies. Although the ETF cannot currently hold XRP, the inclusion in the index puts XRP in a favorable position for wider adoption once regulatory barriers ease.
For investors, this move signals that XRP is gaining ground as a mainstream digital asset. It may encourage more institutional investors to explore XRP, contributing to deeper liquidity and possibly more stable price action over time.
XRP has long been a prominent cryptocurrency focused on enabling fast and affordable cross-border payments. Its technology and partnerships with banks and financial institutions have positioned it uniquely in the crypto space.
Being part of the Nasdaq index boosts XRP’s legitimacy, as indices are widely used by asset managers to build investment products and strategies. Inclusion often leads to new financial products based on the asset, increasing accessibility for both retail and institutional investors.
While XRP’s addition to the Nasdaq Crypto US Settlement Price Index is a milestone, the crypto market continues to face regulatory challenges, especially in the U.S. The outcome of Nasdaq’s proposal to the SEC could shape how quickly XRP and other altcoins gain institutional footholds.
In the meantime, XRP holders and supporters can view this development as a positive sign of progress. It also highlights the importance of regulatory clarity and innovation to support the integration of digital assets into traditional financial systems.
XRP’s inclusion in the Nasdaq Crypto US Settlement Price Index represents a significant step in bridging the gap between cryptocurrencies and institutional finance. As Nasdaq pushes for regulatory approval to allow ETFs to hold XRP and other tokens, the crypto ecosystem awaits a potential new era of broader market participation.
This development not only advances XRP’s standing in the digital asset world but also signals growing maturity in the crypto market, benefiting investors, developers, and users alike.
Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9
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