In a landmark move for the digital asset market, XRP has officially been added to the Nasdaq Crypto US Settlement Price Index (NCIUS). This significant development, announced on June 6, 2025, signals growing recognition of Ripple coin among institutional investors and may set the stage for broader integration into regulated financial products.
The inclusion of XRP into this index comes as part of a wider benchmark revision, marking a shift in how traditional financial platforms are approaching the crypto sector.
Nasdaq Expands Crypto Index to Include XRP and More
The update was revealed in a regulatory filing by the Hashdex Nasdaq Crypto Index US ETF (NCIQ) with the U.S. Securities and Exchange Commission (SEC). According to the filing, Nasdaq Inc. revised the NCIUS Index on June 2, 2025, expanding its coverage beyond just Bitcoin (BTC) and Ethereum (ETH). The index now includes four new digital assets:
- Ripple (XRP)
- Cardano (ADA)
- Solana (SOL)
- Stellar Lumens (XLM)
This expansion reflects the maturing state of the crypto market and Nasdaq’s confidence in the long-term potential of these altcoins.
What Is the Nasdaq Crypto US Settlement Price Index?
The NCIUS Index serves as the benchmark for the Hashdex NCIQ ETF, offering market capitalization-weighted exposure to Bitcoin and Ethereum. It follows a rules-based methodology that allows for periodic inclusion of other digital assets. While the index is now broader, the ETF itself remains limited in what it can hold.
Despite the index upgrade, the Hashdex ETF cannot yet include the new crypto assets like Ripple in its portfolio. Current SEC regulations only allow the ETF to hold Bitcoin and Ethereum.
As highlighted in the filing:
“Under current regulatory restrictions, the Trust is only permitted to hold bitcoin and ether, and is not permitted to hold the new index constituents and, as such, the risk of potential tracking error is increased.”
This tracking error arises when an ETF’s performance diverges from its benchmark due to differences in asset composition. In this case, while the index now reflects a wider crypto landscape, the ETF itself does not, at least for now.
XRP Was Already Added to Nasdaq’s Broader Crypto Index in 2024
Interestingly, this isn’t the first time XRP has made it into a Nasdaq index. On June 3, 2024, Ripple was officially added to the Nasdaq Crypto Index (NCI). This broader index also includes:
- Chainlink (LINK)
- Litecoin (LTC)
- Uniswap (UNI)
Along with BTC, ETH, ADA, SOL, XLM, and now XRP.
Nasdaq has since filed a proposed rule change with the SEC, submitted on March 7, 2025, requesting permission for the Hashdex ETF to adopt the broader NCI index as its new benchmark. If the SEC approves this change, the ETF would be able to hold all nine cryptocurrencies currently in the broader index.
A final decision from the SEC is expected by November 2, 2025.
What This Means for XRP
The inclusion of XRP in a Nasdaq index represents a significant milestone for the cryptocurrency. Here’s why it matters:
- Institutional Recognition: Being added to a major financial index gives Ripple token more legitimacy in the eyes of institutional investors and asset managers.
- Increased Visibility: Index inclusion often leads to more media attention and analyst coverage.
- Potential ETF Exposure: If regulatory approval comes through, XRP could eventually be held in regulated ETFs, unlocking a new stream of demand.
- Step Toward Broader Adoption: XRP is now in the same tier as ETH and BTC in at least one index, a notable leap from its prior status.
This is especially important given XRP’s complicated legal history with the SEC. In recent years, Ripple Labs, the company behind XRP, faced an extended legal battle with the SEC over whether Ripple coin should be classified as a security. Although that case saw partial resolution in 2023, its long-term regulatory standing has remained a point of contention.
Inclusion in a Nasdaq index suggests that XRP has cleared at least some major institutional hurdles.
ETF Tracking Errors: A Temporary Setback?
While the updated index shows progress, the Hashdex ETF’s inability to hold XRP and other new tokens creates an immediate performance mismatch. This may be a concern for investors who expect full index tracking.
However, if the SEC grants approval by November 2, the ETF would likely be allowed to fully track the expanded benchmark, including XRP. This could dramatically shift institutional interest and capital flows toward this coin and other newly included assets.
Conclusion: A Turning Point for XRP and Crypto ETFs
The addition of XRP, ADA, SOL, and XLM to the Nasdaq Crypto US Settlement Price Index marks a new chapter for institutional engagement in crypto. While regulatory limitations still prevent full ETF exposure to these assets, the groundwork has clearly been laid.
All eyes are now on the SEC’s decision in November 2025. If approval is granted, XRP could soon be part of a regulated crypto ETF, an outcome that would have been hard to imagine just a few years ago.
Until then, XRP’s inclusion in the index alone is a major achievement that underscores its staying power and growing acceptance in the financial mainstream.
