• SEC approved Hashdex’s ETF expansion to include XRP, SOL, and XLM under updated Nasdaq listing rules.
• New SEC standards reduce crypto ETF approval time from 270 days to as little as 75 days.
• Over a dozen ETF filings are now pending, with firms preparing for a wave of Q4 2025 launches.

The U.S. Securities and Exchange Commission has approved the Hashdex Nasdaq Crypto Index US ETF to include XRP, SOL, and XLM. This move expands the ETF’s current portfolio, which already holds BTC and ETH. The change follows the SEC’s adoption of new listing standards that significantly speed up the approval process for crypto-related exchange-traded funds.

Hashdex Updates Trust Structure to Meet New Requirements

Hashdex made the portfolio adjustment last Thursday after modifying its trust agreement to meet Nasdaq’s updated rules. A revised filing, submitted through Form 8-K, confirmed the change. The new “Third Amended and Restated Trust Agreement” was signed by Hashdex Asset Management Ltd. and CSC Delaware Trust Company. This new agreement replaces the previous version and aligns with the SEC’s latest compliance structure.

The ETF, listed under the ticker NASDAQ:NCIQ, remains registered in Delaware as an “emerging growth company.” The latest filing did not reflect changes to its fiscal year or financial documents. However, the updated trust agreement was attached to confirm adherence to Nasdaq’s criteria for crypto ETF listings.

New SEC Standards Streamline ETF Launch Process

As reported by CryptoNewsLand last week, the SEC approved revised listing rules that allow crypto ETFs to bypass the traditional review process. Previously, ETFs could wait up to 270 days for approval. With the new structure, qualifying products may launch within 75 days. These changes triggered a wave of filings from firms aiming to enter the market before the end of 2025.

More than a dozen ETF applications are now pending. Several issuers have already submitted updated documents. According to sources involved in the filings, final submissions could be completed by the end of this week.

Firms Prepare for Q4 ETF Launches

Asset managers are preparing for October launches. Jonathan Groth of DGIM Law stated the market could see a surge in new ETFs during Q4. These funds may include cryptocurrencies such as XRP and SOL, which have now met the SEC’s updated inclusion standards.

To qualify, ETFs must meet at least one of three conditions. The asset must trade on a regulated exchange or have active CFTC-regulated futures for six months. Alternatively, the coin must already be held in another ETF, with at least 40% of assets invested directly. Grayscale moved quickly following the SEC’s announcement. Within two days, it converted its private fund into the Grayscale CoinDesk Crypto 5 ETF (GDLC.P). 

This fund holds BTC, ETH, XRP, SOL, and ADA. According to the firm’s filing, the move supports market access under the updated regulatory structure. Meanwhile, other firms are still reviewing which of their filings qualify under the new rules.