The United States Securities and Exchange Commission (SEC) has recently approved another notable exchange-traded fund (ETF). Hence, the SEC has approved the launch of the Hashdex Nasdaq Crypto Index US ETF, which will operate under exclusive generic listing principles.
As reported by TapTools, the respective regulatory shift permits the fund to effectively hold a wider range of cryptocurrencies beyond Ethereum ($ETH) and Bitcoin ($BTC). Hence, the decision denotes a crucial move for wider altcoin exposure for institutional portfolios.
SEC Officially Approves Hashdex Nasdaq Crypto Index Including $XLM, $LINK, $ADA, $SOL, and $XRP
The SEC’s approval for the Hashdex Nasdaq Crypto Index US ETF is a significant development. It signifies a shift permitting a wider crypto asset range beyond Bitcoin ($BTC) and Ethereum ($ETH). The newly allowed crypto assets include Stellar ($XLM), Chainlink ($LINK), Cardano ($ADA), Solana ($SOL), and Ripple ($XRP). With this move, the institutional portfolios get substantial exposure to altcoins to diversify holdings.
Apart from that, the official shared data reveals that the Hashdex Nasdaq Crypto Index US ETF has 72.29% allocation for the leading crypto coin, Bitcoin ($BTC). In addition to this, Ethereum ($ETH), Ripple ($XRP), and Solana ($SOL) have 14.47%, 6.93%, and 4.11% shares. Subsequently, Uniswap ($UNI), Stellar ($XLM), Chainlink ($LINK), and Cardano ($ADA) account for 0.14%, 0.33%, 0.50%, and 1.22%.
Crypto ETF Advancement Starts New Epoch for Ethereum and Other Altcoins
Simultaneously, the expanded scope of the ETF could trigger rebalancing across driver institutional and retail portfolios. In this respect, coins such as $SOL and $XRP, formerly sidelined because of regulatory ambiguity, now get the opportunity to attract new capital inflows.
Additionally, the role of Ethereum as a prominent smart contract entity is still the central, while the latest ETF framework promotes the wider advancement of unique infrastructure coins. Hence, as the market onlookers predict, this initiative is set to start an exclusive era in cryptocurrency investment marked by utility and adaptability.
