According to the latest reports, Hashdex, a crypto asset manager, has filed with the U.S. Securities and Exchange Commission (SEC) to add Solana (SOL), Cardano (ADA), and XRP to its Nasdaq Crypto Index ETF. This uses the newly approved generic listing standards from earlier this month which simplifies the process for listing spot commodity-based ETFs.
Under the proposed change, the ETF will fully reflect the digital asset index by including top altcoins beyond just Bitcoin and Ethereum.
The Filing and Proposed Composition
The recently announced filing is seeking to add SOL, ADA, and XRP to Hashdex’s Nasdaq Crypto Index ETF. Bloomberg ETF analyst James Seyffart noted the index composition: 72.5 % Bitcoin, 14.8 % Ethereum, 4.3 % Solana, 1.2 % Cardano, and 6.9 % XRP. Hashdex wants to mirror the full Nasdaq crypto index rather than a reduced exposure.
By adding SOL, ADA, and XRP, Hashdex is aligning the ETF with the index that already weights those altcoins. The filing references the SEC’s new generic listing standards which were adopted to streamline the approval of commodity-based trust shares (including crypto ETFs) on major exchanges.
Also read: SEC Clears Path for Altcoin ETFs as New Listing Rules Reshape Market
SEC’s Generic Listing Standards and Regulatory Shift
The SEC recently approved generic listing rules for commodity-based trust shares, including digital assets. These rules allow exchanges to list new crypto ETFs via a more formulaic approval path, removing the need for a fully bespoke review under Section 19(b) in many cases. This regulatory change is seen as opening doors for ETF issuance.
Under the generic standards, assets that meet certain criteria, such as having regulated futures markets, surveillance, liquidity, and reference pricing, can be listed more easily. This reduces administrative friction and shortens the timeframe for ETF approval (from months to potentially weeks).
Altcoin ETF Ecosystem
Hashdex is the first to file under the new rules in the U.S. If approved, it could be a green light for altcoins like SOL, ADA and XRP to be ETF eligible. Many fund managers who previously excluded these assets may now apply to include them.
Having multiple altcoins in one ETF will encourage diversified exposure not single asset bets. It will also mean secondary markets for these assets will get more legitimacy and institutional interest.
Those already trading futures (e.g. SOL) may more easily meet the new listing standards. In fact, analysts say Solana’s futures have been trading long enough to meet the eligibility requirements.
Also read: XRP Enters Nasdaq Index, Raising Hopes for Future ETF Approval
Conclusion
Based on the latest reports; Hashdex’s application to add SOL, ADA and XRP to its Nasdaq Crypto Index ETF is a big move under the new SEC generic listing standards.
The new rules simplify the process but don’t guarantee approval. However, if approved, it could change how altcoins get into institutional investment vehicles amping crypto exposure.
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Summary
Hashdex has filed with the SEC to add Solana, Cardano and XRP to its crypto index ETF. The SEC approved the generic listing standards in September 2025 so listing new crypto ETFs will be faster and more standardized. Adoption of altcoins in an ETF could deepen institutional markets but infrastructure and regulation challenges must be overcome.
Glossary
Generic Listing Standards – SEC rules adopted in September 2025, allowing exchanges to list commodity-based ETFs (including crypto) via standardized criteria.
Commodity-Based Trust Shares – A type of ETF that holds a commodity (or digital assets) directly, not derivatives or equities.
Index ETF – An ETF that tracks a specific index, trying to replicate its composition and performance.
Surveillance Agreement – An agreement to allow for the exchange of information and detect fraud or manipulation in underlying assets.
Spot Crypto ETF – An ETF that holds the actual underlying crypto assets (not futures) as part of its portfolio
Frequently Asked Questions About Hashdex Crypto Index ETF
What’s new about SEC’s generic ETF rules?
Generic listing standards allow major exchanges (Nasdaq, NYSE, Cboe) to list commodity-based trust shares, including spot crypto ETFs, without SEC approval per product.
Why SOL, ADA, and XRP now?
Under the new rules, assets beyond Bitcoin and Ethereum can be considered if they meet criteria like liquidity and derivative markets. Hashdex wants to match the index by adding these altcoins.
Will SOL/ADA/XRP ETFs launch soon?
The generic rules provide a path. Issuers need to file and meet the standards.
What do assets need to satisfy under the new rules?
They typically need regulated futures markets (for certain periods), surveillance agreements, reliable reference pricing, adequate liquidity and compliance infrastructure.
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