Crypto World Shakes! Nasdaq Embraces XRP, XLM, SOL, ADA! 🤯

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Ah, Nasdaq, that towering monument to the relentless, often
heartless, dance of capital! It has deigned to acknowledge the rabble, the
upstart cryptocurrencies that dare to challenge the old order. Yes, my
comrades, XRP, Stellar (XLM), Solana (SOL), and Cardano (ADA) have been
swept into its cold, calculating embrace. One can almost hear the weary sigh
of the establishment as it grudgingly makes room for the new players.
😂

The Nasdaq Crypto US Index (NCIUS)—a grandiose title for what is, in
essence, a measure of the digital winds that buffet our fragile financial
ships. They claim it aims to measure the performance “of a material
portion” of the digital asset market. Material portion! As if these digital
phantoms can be quantified with such crude, earthly terms.

Originally, only Bitcoin (BTC) and Ethereum (ETH) were deemed worthy of
inclusion, the self-proclaimed Tsar and his favored courtier. But now, the
gates have creaked open, and the other four crypto assets have been allowed
to join the party. A sign of progress? Or merely a clever ploy to lure more
sheep to the slaughter? 🐑

The financial firm Hashdex, ever vigilant, has raised its voice to herald
this momentous occasion in a filing with the Securities and Exchange
Commission (SEC). One can imagine the frantic scratching of pens, the
rustling of papers, as the bureaucrats attempt to make sense of this digital
maelstrom.

Hashdex, you see, offers an exchange-traded fund (ETF) that tracks the
NCIUS. But alas! It can only hold BTC and ETH, shackled by the SEC’s
restrictive chains. A cruel irony, is it not? To offer a taste of freedom
while keeping the masses firmly confined.

So, Hashdex, in its infinite wisdom, has implemented a “sampling strategy”
to balance the BTC and ETH holdings. A delicate dance, indeed, to provide
investors with accurate exposure to the NCIUS while navigating the SEC’s
labyrinthine rules. But fear not, comrades, for Hashdex also notes the
additional risk of a potential tracking error. A risk, I say, as inherent to
this game as fleas to a dog! 😜

And what’s this? In March, Nasdaq filed with the SEC for a rule change that
would permit Hashdex’s ETF to change its benchmark index from NCIUS to the
Nasdaq Crypto Index (NCI). This NCI, mind you, holds all six of the
above-mentioned crypto assets, as well as Litecoin (LTC), Uniswap (UNI), and
Chainlink (LINK). A veritable cornucopia of digital delights!

The SEC, that grand inquisitor of the financial world, is now reviewing this
proposed rule change and is expected to make a decision by November. Will
they grant this small measure of freedom, or will they tighten their grip on
the digital reins? Only time, and the whims of the regulators, will tell.
🤔

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2025-06-10 20:08