thecryptobasic.com
Top crypto asset manager Hashdex submits an amended filing to the U.S. SEC to include XRP and Cardano in its Nasdaq Crypto Index US ETF (NCIQ).
Hashdex submitted the filing on March 14, seeking to expand the crypto asset offering in its Nasdaq Crypto Index US ETF.
Currently, the fund features two of the world’s largest cryptocurrencies by market cap, Bitcoin and Ethereum. The assets are featured based on their market cap-weighted exposure, with Bitcoin and Ethereum weighing 88.3% and 11.7%, respectively.
Hashdex Seeks to Add XRP and Cardano to NCIQ ETF
Interestingly, Hashdex is seeking SEC approval to include other altcoins in the ETF. The proposed cryptocurrencies include XRP and ADA. In addition, the proposal also mentioned other assets like AVAX, SOL, LTC, UNI, and LINK.
If the SEC approves Hashdex’s request, the asset manager will update the fund’s composition to mirror the weightings of the proposed altcoins based on their market valuations.
At the time of the filing, Hashdex emphasized that Bitcoin and Ethereum account for over 85% of the ETF’s composition.
“As of the date of this prospectus, they [Bitcoin and Ethereum] collectively represent over 85% of the Index,” an excerpt of the filing read.
NCIQ Details
Launched on February 13, 2025, the Hashdex ETF is trading on the Nasdaq stock exchange with a management fee of 0.25%.
Hashdex serves as the sponsor, with U.S. Bancorp Fund Services LLC being the administrator and Parallel Distributors, the marketing agent. As of March 18, the NCIQ ETF boasts an AUM of $70.43 million and outstanding shares of 3.28 million.
Asset Managers File to Launch XRP and Cardano ETFs in the US
Meanwhile, some of the cryptos Hashdex plans to add to the NCIQ ETF already have separate filings for a spot exchange-traded fund.
While XRP has filings for at least 15 ETF products from top asset managers like Bitwise and 21Shares, Cardano has seen one spot ETF application from Grayscale Investments.
So far, the SEC has acknowledged these ETF filings, with the crypto community anticipating their potential launch later this year.