The Nasdaq has updated its crypto index with XRP, Stellar (XLM), Solana (SOL) and Cardano (ADA).
The Nasdaq Crypto US Index (NCIUS) aims to measure the performance of a material part “of the general digital asset market, according to the Nasdaq Global Indexes website.
The index originally only followed Bitcoin (BTC) and Ethereum (ETH), but earlier this month it added the other four crypto assets.
The Financial enterprise Hashdex called attention to the change in a new application with the Securities and Exchange Commission (SEC).
The company offers an exchange fund (ETF) that follows the NCIUS, but it can only contain BTC and ETH due to secrets on the product.
Hashdex says that it has implemented a “sample strategy” to balance the BTC and ETH companies to provide accurate exposure to the NCius, but because it cannot follow the other assets in the index, the company also notes that there is an extra risk of a potential tracking error.
In March, Nasdaq submitted to the SEC for a change of rule that would enable the Hashdex ETF to change his benchmark index of NCIUS in the Nasdaq Crypto Index (NCI), which contains all six of the aforementioned crypto assets and litecoin (LTC), uniswap (uni) and chainlink (link).
The SEC currently assesses the proposed change of rule and is expected to make a decision by November.
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