Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility

Boluwatife Adeyemi
9 hours ago
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An image of Cardano, Hashdex, and SEC's logos

Highlights

  • Hashdex filed a form 8-K with the SEC notifying them of Cardano's inclusion in the fund.
  • The asset manager noted that ADA is now eligible under the generic listing standards.
  • The crypto index fund will hold BTC, ETH, XRP, SOL, ADA, and XLM.

Asset manager Hashdex has officially included Cardano in its Nasdaq Crypto Index U.S. ETF. This follows ADA’s eligibility under the new generic listing standards, with the altcoin now joining BTC, ETH, XRP, SOL, and XLM as part of the fund’s holdings.

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Hashdex Includes Cardano In Crypto Index Fund

The asset manager filed a Form 8-K with the SEC, notifying the agency of the inclusion of ADA in the Trust’s holdings, effective as of today. The firm noted that ADA, currently part of the Nasdaq Crypto U.S. Settlement Price Index, will become an eligible asset under the generic listing standards adopted by Nasdaq following SEC approval.

In line with this, Hashdex’s Nasdaq Crypto Index U.S. ETF will now hold Bitcoin, Ethereum, Solana, XLM, XRP, and Cardano. The Trust’s holdings will be subject to quarterly rebalancing and any additional Index constituents added from time to time in accordance with the Index’s methodology and the generic listing standards.

CoinGape had earlier reported that the SEC approved Hashdex’s expansion of its crypto index fund beyond Bitcoin and Ethereum to include other crypto assets. Notably, the weighted holdings place BTC at 72.5%, ETH at 14.8%, XRP at 6.9%, SOL at 4.3%, and ADA at 1.2%.

With Cardano now eligible under the generic listing standards, this effectively paves the way for the potential approval of Grayscale’s ADA ETF, which is among the funds that the SEC is likely to decide on this month. It is worth mentioning that ADA already has a futures market on Coinbase, making it eligible for approval under the generic listing standards.

Bloomberg analyst Eric Balchunas recently stated that the odds of approval for crypto ETFs that meet the requirements under the generic listing standards are now 100%. As such, this means that the SEC will approve the Grayscale ADA ETF, although the timeline for approval remains uncertain.

Moreover, the timeline for a potential approval has become more complicated following the U.S. government shutdown. Bloomberg analyst James Seyffart earlier warned that the approval process could become “wonky” if the shutdown eventually occurred.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.