Cardano’s Wall Street Dream: Will It Finally Get the Respect It Deserves?

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In the bustling world of cryptocurrencies, where fortunes are made and lost faster than a tumbleweed in a dust storm, Cardano, that plucky little contender, has just snagged itself a shiny new badge of honor. Yes, folks, the 10th-largest cryptocurrency by market cap has managed to wiggle its way into the hallowed halls of Wall Street. The Cardanians, a merry band of ADA enthusiasts, took to the digital skies to announce this momentous occasion with a tweet that could make even the most stoic investor crack a smile.

🇺🇸 BREAKING:

Nasdaq has officially reconstituted its Crypto US Settlement Price Index (NCIUS) to include Cardano $ADA.

This index serves as the benchmark for the Hashdex Crypto ETF.

This is a major step forward in bringing Cardano closer to Wall Street and traditional markets.

— Cardanians (CRDN) (@Cardanians_io) June 7, 2025

Now, let’s not beat around the bush. Nasdaq has decided to shake things up a bit, reconstituting its Crypto U.S. Settlement Price Index (the “NCIUS”) to include not just Cardano, but also a few other digital darlings: Solana (SOL), Stellar (XLM), and XRP, alongside the old guard, Bitcoin (BTC) and Ethereum (ETH). It’s like a digital family reunion, but with fewer awkward conversations and more potential for profit.

“This is a major step forward in bringing Cardano closer to Wall Street and traditional markets,” the Cardanians chirped, their excitement palpable. You could almost hear the collective sigh of relief from the ADA community, as if they had just found a long-lost sock in the dryer.

But hold your horses! Despite this grand announcement, the Hashdex Nasdaq Crypto Index U.S. ETF is still playing hard to get, only allowing BTC and ETH to join the party. It’s like being invited to a wedding but only being allowed to dance with the bride and groom while everyone else is stuck at the kids’ table.

Major decision ahead

On March 7, 2025, Nasdaq decided to throw caution to the wind and filed a proposed rule change with the SEC, hoping to let Cardano, XRP, and a few other cryptocurrencies crash the ETF party. If the SEC gives a thumbs up, the Hashdex Nasdaq Crypto Index U.S. ETF could swap its Benchmark Index from the “NCIUS” to the broader Nasdaq Crypto Index (“NCI”), which would allow it to hold a veritable cornucopia of digital assets.

Imagine the possibilities! BTC, ETH, XRP, SOL, ADA, Chainlink (LINK), Litecoin (LTC), XLM, and Uniswap (UNI) all mingling together in a digital utopia. But for now, we wait with bated breath, as the SEC takes its sweet time to make a decision, with a final verdict expected on or before Nov. 2, 2025. Will Cardano finally get the respect it deserves, or will it remain the wallflower at the crypto dance? Only time will tell! 🤔

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2025-06-08 12:56