As digital assets continue to see increasing interest and adoption, many market participants are looking for the same things they expect from traditional asset classes: transparency, governance, and reliable benchmarks that can support long-term investment strategies.
Nasdaq and CME Group are responding to that demand by deepening their long-standing partnership and relaunching the Nasdaq Crypto™ Index (NCI™) as the Nasdaq CME Crypto™ Index (NCI™) – establishing a premier index designed for today’s investors looking to gain digital asset exposure.
This announcement brings together two of the world’s most trusted market infrastructure providers at a critical moment for the digital asset ecosystem, as renewed investor confidence and a clearer regulatory framework accelerate institutional participation.
“It’s not just a name change,” said Giovanni Viccioso, executive director of equities and alternative products at CME Group. “It is a combination of two gold standards to provide the regulated diversification and fundamental building blocks now demanded by the market.”
According to Sean Wasserman, CFA, head of index product management at Nasdaq, the timing of the announcement reflects a broader shift in how investors are approaching digital assets.
“Now that we are starting to see regulatory clarity in the treatment of crypto assets, particularly in the US, the door has been opened for industry participants to bring the types of regulated investment solutions to the crypto asset class that investors rely on every day,” Wasserman said.
While early crypto investing largely focused on single-asset risk, Wasserman said the market is evolving toward index-based strategies.
“We see an index-based approach as the direction investors are going, beyond Bitcoin,” he said. “It’s similar to what we’ve seen in other asset classes, where you have indices that are representative of the broader market.”
Both Wasserman and Viccioso noted that the deepened partnership reflects the shared commitment by Nasdaq and CME Group to establish a common benchmark conducive to an ecosystem that can serve as a foundation for long-term growth in digital assets.
Building on decades-long partnership
Nasdaq and CME Group’s collaboration spans nearly 30 years, beginning with the launch of Nasdaq-100 Index® Futures in 1996 and the introduction of E-Mini Nasdaq-100 Futures in 1999. Together, the two companies helped create one of the most successful equity index derivatives ecosystems in the world – including futures, options and ETFs used by investors globally.
Earlier this year, the companies extended their exclusive NASDAQ-100® licensing relationship for another decade, strengthening the strength of their partnership and the liquidity ecosystem they have created together.
“This announcement demonstrates how Nasdaq and CME Group want to bring their collective experience in markets and indexing to the crypto asset class,” Wasserman said.
Viccioso agreed on how deeper collaboration extends that legacy into a new asset class that is reaching an inflection point.
“This initiative is another example of our commitment to collaboration and product innovation – not only within the traditional finance sector, but also within the rapidly growing cryptocurrency sector,” he said.
governance and trust at its core
For institutional investors, governance is one of the most important considerations when evaluating digital asset risk. nasdaq cme cryptoTM Index (NCITM) is built on verified exchanges and custodians overseen by a joint governance committee, which helps ensure alignment with emerging market practices and regulatory standards. Additionally, the index is also calculated by CF Benchmarks, a leading provider of digital asset benchmarks and a trusted partner of both CME Group and Nasdaq.
“Crypto is still a relatively new asset class that is constantly evolving,” Wasserman said. “As it goes through these growing pains, it is integral that you have not just one, but two trusted global organizations, each of which has a history of understanding the markets and a conservative risk management approach to governance.”
Transparency is at the heart of that approach. Nasdaq publishes a detailed methodology outlining the eligibility criteria, liquidity limits, weighting rules, and quarterly restructuring schedule.
Visioso said this governance model is designed to reflect the rigor that investors expect from traditional asset classes, thereby strengthening trust as digital assets mature.
Enabling the next phase of product innovation
nasdaq cme cryptoTM Index (NCITM) is designed to serve as a fundamental benchmark for a growing range of regulated financial products, including ETFs, structured products and actively managed funds.
While much of that ecosystem is still being built, Wasserman explained that the index will lay the groundwork for more sophisticated portfolio construction – enabling the risk management, capital efficiency and diversification strategies that are common in equities.
CME Group brings deep experience in regulated derivatives to that effort. Since launching the first CME CF Bitcoin reference rate in 2016 and one of the first regulated Bitcoin futures contracts in 2017, it has become a leading venue for institutional crypto participation.
“Our crypto derivatives provide a comprehensive ecosystem with a regulated and liquid market for price discovery,” Visioso said.
A benchmark with global reach
Launched in 2021, the index is part of an ecosystem of Nasdaq digital asset indices licensed for products across the US, Europe and Latin America with crypto native asset manager Hashdex supporting over $1 billion of assets today, including the first multi crypto asset index tracking ETF in the US, the Hashdex Nasdaq Crypto Index US ETF (ticker: NCIQ). Both Nasdaq and CME Group expect investor and issuer adoption to expand as demand for regulated crypto exposure increases.
Looking ahead, Nasdaq’s Wasserman predicted that crypto could increasingly be incorporated into portfolios as a modest but meaningful allocation.
“We’re really talking about establishing it as an asset class,” he said. “Even a one to five percent allocation as part of a broader portfolio mix is a huge opportunity from an adoption standpoint.”
For Visioso, an overarching goal is to shape the future of how digital assets are accessed and managed.
“Nasdaq CME CryptoTM Index (NCITM) is purpose-built for the future of finance,” he said. “The index is not just tracking crypto – it is shaping how global investors build diversified portfolios.”
Learn more about the Nasdaq CME Crypto™ Index (NCI™).
Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, Nasdaq CME Crypto™, NCI™ Nasdaq, Inc. are trademarks of. The information above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice on behalf of any particular digital asset or overall investment strategy. Neither does Nasdaq, Inc. Nor does any of its affiliates make any recommendation to buy or sell any digital asset or make any representation regarding the financial condition of the digital asset. Statements regarding Nasdaq Proprietary Index are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should do their due diligence and carefully evaluate the property before investing. Advice from a financial professional is strongly advised.
