The SEC has given the green light to the Hashdex Nasdaq Crypto Index US ETF, allowing it to operate under new listing standards. This approval enables the addition of XRP, SOL, and XLM alongside its current holdings of BTC and ETH.
Listed as NASDAQ:NCIQ, this ETF made adjustments last Thursday by updating its trust structure to align with these new criteria. The changes were documented in a Form 8-K filing on Wednesday and included a “Third Amended and Restated Trust Agreement” signed by Hashdex Asset Management Ltd. and CSC Delaware Trust Company, replacing an earlier agreement.
Based in Delaware, this ETF is identified as an “emerging growth company.” The filing did not alter its fiscal year or introduce any fresh financial documents. An updated trust agreement was attached as evidence of compliance with Nasdaq’s listing requirements.
ETF Issuers Gear Up for October Launch
Following last week’s SEC decision to adopt updated listing standards, several asset managers have accelerated their efforts. These new rules allow eligible crypto ETFs to bypass lengthy individual reviews that previously took up to 270 days for approval. Now approvals can be secured within just 75 days.
“We’ve got about a dozen filings with the SEC now, and more coming;” said Steven McClurg, founder of Canary Capital Group. He confirmed that asset managers are eager to capitalize on these regulatory changes. “‘'We’re all preparing for a surge in launches,” he added.
This surge is anticipated in Q4 2025 according to Jonathan Groth at DGIM Law who described it as likely being a “bloom period” for crypto ETFs.
The rush began back in July when proposed changes were first introduced by the SEC leading firms into action mode – rewriting filings addressing feedback from regulators while meeting updated standards.
Sources close say final updates could be submitted before week’s end.
“These are rules we had been anticipating,” stated Teddy Fusaro president Bitwise who noted most submissions nearing completion phase potentially hitting markets soon analysts predict early October debuts tracking SOL XRP among others
New Regulations Expedite Crypto ETF Approvals
To qualify under expedited processes each must meet one out three primary conditions:
- The coin involved trades regulated exchange or CFTC-regulated futures contracts active six months minimum ;
- An existing fund holds said coin comprising forty percent direct investment rather than swaps options;
- If either condition met red tape avoided altogether
No all companies ready proceed however Kyle DaCruz head digital assets VanEck commented "Not our current applications qualify next step involves consulting legal teams determine products advance quickly market"
Grayscale Investments wasted no time converting private fund public product Grayscale CoinDesk Crypto Five GDLC.P less than two days post-announcement holding BTC ETH XRP SOL cardano Peter Mintzberg CEO emphasized rapid launch demonstrates commitment towards providing public access clarity innovation
Larger question remains whether investors show interest lesser-known tokens flood unfamiliar names warned DaCruz unlike established BTC requiring years build credibility some may receive mere weeks education prior release