NASDAQ's decision to file proposals with the Securities and Exchange Commission (SEC) seeking renewal Nasdaq The Crypto Index (NCI) has been criticised. Willy Woo, a top analyst at the Crypto space, has pointed out that classifying XRP as Bitcoin (BTC) is a flawed decision.
Willie Woo calls for rethinking NASDAQ's proposal for adding XRP
To be clear, NASDAQ suggests updating the NCI to include XRP, Solana and Stellar. Cardano A list of assets for Hashdex Nasdaq Crypto ETF (NCIQ);
in post In X, Woo argues that Bitcoin should not exist in the same category as these other assets, like XRP. He insists on it Bitcoin It's a financial product like gold, but it's digitally decentralized.
Analysts claim that Bitcoin is a store worthy of gold and has a fixed supply.
This shows how quickly we are in the BTC arc.
If Nasdaq had been refined, I'd submitted to remove BTC from the Crypto Benchmark index.
They mix financial products with unreliable programming platforms (crypto). https://t.co/pjkghkfi7g
– Willie Woo (@woonomic) June 9, 2025
In contrast, Woo considers most other Altcoins, such as XRP, to be an unreliable programming platform for running smart contracts and building distributed applications.
He insists that Nasdaq's SEC application will include XRP in the same category as Bitcoin in one benchmark index. In other words, it is the important difference between “money” and “technical platforms.”
WOO: Remove Bitcoin from Nasdaq Crypto Index
Woo suggests that a better approach was to completely remove Bitcoin from the index.
“If Nasdaq had been refined, they would have submitted to remove BTC from the Crypto Benchmark index,” he wrote.
This means that the Nasdaq will need to create another category of Bitcoin as a financial asset and distinguish it from a high-tech platform.
Top analysts emphasize that mainstream institutions such as NASDAQ and investors are in the early stages of understanding the unique role of Bitcoin in the digital currency ecosystem.
At the time of reporting, XRP was like that. Trade up Bitcoin was exchanged for $105,659.64, representing a 1.78% increase over the last 24 hours, with an increase of 0.72% at $2.23.
