- SEC approves Hashdex ETF, holding BTC, ETH, XRP, SOL, XLM.
- ETF broadens crypto asset inclusion.
- Approval may increase market liquidity.
The SEC has approved the Hashdex Nasdaq Crypto Index US ETF, allowing it to hold BTC, ETH, XRP, SOL, and XLM under new listing standards, expanding approval scope in the US market.
This approval signals expanding regulatory acceptance, potentially boosting institutional investment in crypto markets, especially as it includes XRP post-legal scrutiny, further diversifying investor asset options.
SEC Approval and Implications
SEC has approved Hashdex’s Nasdaq Crypto Index US ETF, permitting holdings in BTC, ETH, XRP, SOL, and XLM. This decision aligns with new generic listing standards to facilitate broader crypto ETF approvals.
Involved parties include Hashdex, with executives such as Marcelo Sampaio and Bruno Caratori. The ETF approval suggests changes in regulatory attitudes and will enable a diversified crypto basket for U.S. investors. As Nate Geraci, President of The ETF Store, stated, “The Hashdex Nasdaq Crypto Index US ETF has received SEC approval under the new general listing standards, expanding allowable assets beyond BTC and ETH.”
The ETF approval is expected to enhance legitimacy and liquidity for the included cryptocurrencies. Regulated institutions now have a vehicle to allocate capital to a diverse set of digital assets.
Financial implications include increased accessibility for institutional investors like pension funds. The first-time inclusion of XRP in a U.S. ETF marks regulatory advancement for this asset specifically.
The approval reflects a trend of increased digital asset acceptance within financial sectors. It allows broader market investments through ETFs and may encourage additional crypto asset inclusions.
Historical ETF approvals often lead to short-term market rallies, though long-term impacts depend on broader market trends. Nasdaq partnerships and Hashdex’s regulatory history position this approval as pivotal for future digital asset regulation.
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