SEC considering Nasdaq's application to include Ripple and other cryptocurrencies in NCI index

Last week, Nasdaq filed an application with the US Securities and Exchange Commission (SEC) to expand its cryptocurrency index by including Ripple (XRP), Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM). Experts at CoinMarketCap believe that the approval of the proposal could have a significant impact on the digital market.

These tokens aren't currently tracked by the Hashdex Nasdaq Crypto Index (NCIQ) ETF. Due to regulatory restrictions, this fund can only invest in Bitcoin and Ethereum. If Nasdaq's application is approved, the exchange will be able to include other cryptocurrencies in the broader Nasdaq Crypto Index (NCI), increasing the ETFs' investment opportunities through asset diversification.

Traders are optimistic about potential changes, while market experts aren't rushing to make predictions, keeping a close eye on the situation.

The possible incorporation of XRP, SOL, ADA, and XLM in the Nasdaq index signals their increased acceptance within traditional financial markets. If the application is approved, CoinMarketCap experts predict heightened institutional interest in these cryptocurrencies.