Solana Joins Nasdaq Index as Solaxy Layer-2 Project Secures $46M
The NASDAQ has integrated traditional investing with cryptocurrency since 2025. A recent filing introduced four new cryptocurrencies—Cardano, Solana, Stellar Lumens, and XRP Ledger—to its Crypto US Settlement Price Index, joining Bitcoin and Ethereum. This step could lead to the first multi-asset crypto ETF.
Key highlights include:
- BlackRock’s Bitcoin ETF reached $70 billion in total assets quickly.
- ETFs allow investors exposure to assets without direct purchase, appealing to both retail and institutional investors.
- Currently, Bitcoin ETFs represent 6% of Bitcoin's market cap, while Ethereum ETFs hold 3.13%.
- Potential multi-asset ETFs could increase demand for included cryptocurrencies.
Solana is expanding its ecosystem with several competing validator clients:
- Jito-Solana focuses on MEV solutions.
- Firedancer aims for enhanced performance.
- Sig optimizes workloads for dApps.
- Paladin mitigates transaction attacks.
- TinyDancer is designed for mobile environments.
The upcoming Solaxy Layer-2 solution addresses Solana’s scalability issues, attracting significant investment—$46 million raised in presales. The project combines Ethereum's reliability with Solana's speed, launching the $SOLX token across multiple chains.
The Nasdaq listing positions Solana and Solaxy as pivotal elements in the financial landscape, potentially increasing institutional interest.