Here’s what happened in crypto today

Today in crypto, Hashdex added XRP, Solana and Stellar to its US crypto index ETF under the new listing standards. Meanwhile, nine European banks, including ING and UniCredit, are developing a MiCA-compliant euro stablecoin set to launch in 2026, and Australia unveiled draft laws for crypto service providers.

Hashdex expands Crypto Index US ETF under SEC generic listing standards

Asset manager Hashdex expanded its Crypto Index US exchange-traded fund (ETF) to include XRP (XRP), Solana (SOL) and Stellar (XLM) following the generic listing rule change from the Securities and Exchange Commission (SEC).

The Nasdaq stock exchange-listed ETF now includes five cryptocurrencies held 1:1 by the fund, including Bitcoin (BTC) and Ether (ETH), and is trading under the ticker symbol NCIQ, according to Thursday’s announcement.

The SEC approved generic listing standards for ETFs in September, paving the way for a faster ETF approval process for eligible cryptocurrencies.

To qualify for generic listing eligibility, a cryptocurrency must be classified as a commodity or feature futures contracts listed on reputable exchanges. Additionally, eligible cryptocurrencies must be subject to financial surveillance under the US Intermarket Surveillance Group.

Market analysts and industry executives anticipate a torrent of new crypto ETF filings due to the new standards, which will give stock market participants access to the crypto markets and blur the line between traditional financial instruments and digital assets.

ING, UniCredit join banks developing euro stablecoin under MiCA

A group of major European banks has joined forces to launch a euro-pegged stablecoin in compliance with Europe’s Markets in Crypto-Assets (MiCA) framework.

Dutch lender ING and Italy’s UniCredit are among nine banks participating in the development of a euro-denominated stablecoin, according to a joint statement published by ING on Thursday.

Built in compliance with Europe’s MiCA regulation, the stablecoin is expected to be issued in the second half of 2026, with a mission of becoming a trusted European payment standard in the digital ecosystem.

The announcement noted that the initiative aligns with Europe’s plans to provide a local alternative to the US-dominated stablecoin market and to contribute to the EU’s strategic autonomy in payments.

Alongside ING and UniCredit, the European stablecoin initiative also includes Spain’s CaixaBank, Denmark’s Danske Bank, Austria’s Raiffeisen Bank International, Belgium’s KBC, Sweden’s SEB, Germany’s DekaBank and another Italian lender, Banca Sella.

The founding members have also established a new company headquartered in the Netherlands, ING’s home country, to oversee the development and management of the stablecoin.

The banking consortium said in the joint announcement that it remains open to other banks joining the stablecoin project.

Australia drafts law to tighten oversight of crypto exchanges

Australia is looking to tighten regulations on crypto service providers, with draft legislation released on Thursday extending financial service sector laws to crypto businesses.

Assistant Treasurer Daniel Mulino told a crypto conference that the legislation is “the cornerstone” of the government’s crypto roadmap released earlier this year and was “a preliminary version” on which it would seek feedback until Oct. 24 to shape into its final form.

The new law would make two new financial products, a “digital asset platform” and a “tokenized custody platform,” which would both need an Australian Financial Services License.

Mulino said crypto businesses must also adhere to “a suite of obligations designed to accommodate the unique characteristics of digital assets,” including standards for holding crypto and settling transactions, with some smaller platforms exempt.

Many crypto executives expected and have backed the government’s move to regulate the sector under financial services laws, with Kraken Australia managing director Jonathon Miller saying it gives “investors and institutions greater certainty,” but added it was “vital that regulation avoids a one-size-fits-all approach that could stifle competition or disadvantage smaller innovators.”