- Well, bless my soul! Nasdaq has decided to throw XRP and a few other shiny trinkets into its crypto index.
- It seems XRP’s popularity has surged like a cat on a hot tin roof after some good news came a-knockin’.
Now, the Nasdaq exchange, in a fit of ambition, has filed a request with the Securities and Exchange Commission (SEC) to widen its net for crypto assets. It’s like trying to catch fish with a bigger net, hoping for a whopper!
They’re adding Ripple [XRP], Solana [SOL], Stellar Lumens [XLM], and Cardano [ADA] to their Nasdaq Crypto Index (NCI). It’s a veritable cornucopia of digital assets!
Nasdaq Crypto Index: The Grand Finale
In addition to these newcomers, the index keeps an eye on old-timers like Bitcoin [BTC] and Ethereum [ETH], bringing the total to a respectable nine. Quite the party, wouldn’t you say?
Now, the Hashdex Nasdaq Crypto Index tried to join the fun but was only allowed to hold BTC and ETH, thanks to some pesky regulations. It’s like being invited to a feast but only getting to nibble on the bread!
The issuer is now begging the regulators for permission to expand their horizons. The SEC’s decision is due on the 2nd of November 2025. Mark your calendars, folks!
Meanwhile, the fate of a similar Bitwise 10 Crypto Index ETF will be revealed on the 31st of July. But how do these ETFs stack up against the likes of XRP or BTC? That’s the million-dollar question!
As of this year, XRP is down about 3%, while BTC is strutting around with a 14% gain. The crypto index ETFs, however, are lagging behind, averaging a dismal 5% or less. Talk about a lackluster performance!
To add to the drama, the Coinbase 50 Index (COIN50) is down 4%, and the Bitwise 10 Crypto Index ETF has lost 3.5%. It’s a real nail-biter!
But hold your horses! The Nasdaq crypto index and the Nasdaq Hashdex crypto index have managed to rise by 4% and 5%, respectively. A glimmer of hope in this wild west of finance!
Overall, these ETFs might offer a safer bet across various crypto assets, but the returns are as flat as a pancake compared to some of the more exciting individual assets.
In other news, Ripple has partnered with a Web Salon to bolster the digital asset ecosystem in Japan. It’s like finding a friend in a strange land!
This partnership has sparked a surge in XRP’s speculative interest, with Open Interest (OI) jumping to a whopping $4.1B for the first time in June. Now that’s what I call a party!
This development has painted a rosy picture for XRP. On the price charts, XRP bounced up 4% from $2.1 to $2.3, but it seems to be taking a breather above the key moving averages and a short-term supply zone at $2.3.
If $2.3 holds up like a trusty steed, XRP could gallop up to $2.4 or $2.5, offering a potential gain of 6%-10%. But beware! A rejection at $2.3 might embolden the short-sellers to drag XRP back down to $2.0. It’s a wild ride, folks!
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2025-06-10 03:08