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Key Insights:
- Nasdaq now requires shareholder approval for crypto treasury share issuance.
- Ethereum and XRP treasury strategies face new regulatory pressure.
- The altcoin market showed mixed signals despite Ethereum’s strong rise among Wall Street firms.
Nasdaq said that it would increase oversight of companies holding large amounts of cryptocurrency. The exchange noted that shareholder approval is required for new treasury strategies. This has raised concerns about Ethereum and XRP holdings and the wider altcoin market.
Nasdaq Sets New Oversight Rules
According to reports, Nasdaq announced new rules for companies using cryptocurrency as part of their treasury reserves.
The statement was made known on X and was widely circulated in market circles.
The move focused on listed firms that raises money by issuing new shares and then use the funds to buy digital assets.
Under the new approach, companies must now seek shareholder approval before raising capital to purchase cryptocurrency.
The exchange said the step was designed to ensure investors fully understand the risks and strategies tied to this type of treasury activity.
Firms that failed to follow the rule could face suspension or even delisting. Reports also linked this action to recent United States laws.
The GENIUS and CLARITY Acts, both passed in 2025, called for clearer reporting of corporate activity in the digital asset market.
Nasdaq’s new oversight fitted into this wider push for transparency. The move came at a time when many companies are preparing large fundraising rounds.
Out of 124 United States-listed firms planning to raise funds for cryptocurrency purchases this year, 94 are currently listed on Nasdaq.
Together, they aimed to raise more than $133 billion. The announcement had an immediate effect on stocks tied to crypto treasuries.
Shares of companies such as MSTR, BMNR, and SBET fell between 3% and 9% on Thursday.
Ethereum and XRP Treasury Plans Questioned
The announcement raised questions about the growing use of Ethereum and XRP in company treasuries.
Over the past year, more firms have added these digital assets to their treasuries alongside Bitcoin.
Ethereum’s share of the market rose to 20% in the past month. It currently has a market capitalization of $520.6 billion.
Meanwhile, XRP traded at $2.81 as of writing, with a market value of $167.43 billion.
With Nasdaq requiring more detailed disclosure on holdings and risks, some analysts suggested that enthusiasm for Ethereum and XRP could slow.
Treasury managers might now be forced to present more data to investors before taking on exposure to these assets.
This could make decision-making slower and reduce the pace of adoption. Market positions also pointed out the pressure on prices.
XRP’s key support stood at $2.77, with risks of a drop to $2.40 if sentiment weakened.
Large holders had supported Ethereum’s rise, but its reliance on a few investors was seen as a potential risk.
Analysts noted that companies could respond by diversifying into other assets or hedging against market swings.
Impact on the Altcoin Market
The timing of Nasdaq’s new rule coincided with a mixed picture for altcoins more broadly.
According to recent figures only 52 of the top 100 crypto projects had outperformed Bitcoin over the past 90 days.
This suggested that an altcoin season had not yet begun. Even so, Ethereum showed strong performance, climbing 20% in the past month.
The ETH/BTC ratio also increased, a signal that some capital might be moving away from Bitcoin into other coins.
Many traders saw this as a possible early sign of a wider rally. Nasdaq’s tougher stance added caution to these signals.
While greater transparency could give investors more confidence in the long term, the market’s reaction made the short-term impact clear.
Treasury-linked stocks fell, and sentiment on social media was divided.
Some users argued the rules could clean up weak practices, while others said that crypto had already earned its place as a recognized asset class.
For now, Nasdaq’s announcement placed a spotlight on treasury strategies and left the future of Ethereum, XRP, and the broader altcoin market uncertain.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
