SEC clears Bitcoin, Ether as commodities in Nasdaq Texas rule
The SEC clears Bitcoin Ether XRP and Solana as digital commodities under a Nasdaq Texas rule change. Order 34-106268 grants accelerated approval for Nasdaq Texas to amend Rule 5711(d) for Commodity-Based Trust Shares, defining digital commodities and giving managers up to a 15% NAV buffer for non-qualifying assets. The move matters because it embeds those four tokens in an exchange listing framework used for regulated crypto investment products.
According to CoinGape, the U.S. Securities and Exchange Commission approved the modification for cryptocurrency-linked products traded on Nasdaq Texas. Bitcoin, Ethereum, Solana, and XRP were cited as digital commodities that meet the exchange’s current eligibility requirements.
Key Takeaways
- SEC Order No. 34-106268 grants accelerated approval for Nasdaq Texas, LLC to amend Rule 5711(d) covering Commodity-Based Trust Shares.
- The rule change adds an official "digital commodity" definition and allows limited active-management techniques for crypto products.
- Eligible funds may hold up to 15% of net asset value in assets that do not yet meet all listing requirements.
- The SEC used a multi-asset trust example holding Bitcoin, Ether, Solana, and XRP as digital commodities that currently meet the criteria.
- The approval is an exchange listing change, not a new federal commodity statute, as Congress weighs the CLARITY Act later in September.
What did the SEC approve for Nasdaq Texas?
The commission’s order grants accelerated approval for Nasdaq Texas, LLC to amend Rule 5711(d). That rule governs Commodity-Based Trust Shares listed on the exchange.
The revised framework introduces an official definition of "digital commodity" in Nasdaq Texas rules. It also opens room for some active management approaches involving cryptocurrencies, according to the filing covered by CoinGape.
Readers following regulated digital-asset products can find more coverage in our Fintech & Crypto Alerts hub.
Why does it matter that the SEC clears Bitcoin Ether now?
In the SEC’s order, the agency illustrated the new standards with a multi-asset trust. That example includes Bitcoin, Ethereum, Solana, and XRP, which the regulator said are digital commodities meeting the current relevant criteria.
Fund managers gain more flexibility under the approved changes. Listing-eligible products may include assets that do not meet every requirement at the point of listing, capped at no more than 15% of a fund’s net asset value.
The official order is available from the U.S. Securities and Exchange Commission. CoinGape notes the Nasdaq Texas step puts XRP alongside Bitcoin, Ether, and Solana in a commodity-based trust listing framework as spot crypto ETF demand remains elevated.
Is this a new federal commodity law for crypto?
No. CoinGape reports the Nasdaq Texas approval is not a new federal commodity law. It applies to the exchange’s listing structure, though classification changes may still shape how investment firms design crypto-based products.
The order follows earlier regulatory steps toward clearer digital-asset labels. A March interpretation from the SEC and the Commodity Futures Trading Commission classified Bitcoin, Ethereum, Solana, and XRP as crypto commodities, with a broader list that also included Cardano, Avalanche, Dogecoin, Shiba Inu, and Chainlink.
The timing is notable ahead of U.S. crypto legislation debates. The CLARITY Act is set for Senate consideration later in September and aims at a more comprehensive digital-asset regulatory regime.
What should investors watch next?
Asset managers may use the updated Commodity-Based Trust Share standards to structure multi-asset crypto products with clearer eligibility language. The 15% buffer could matter for baskets that mix established digital commodities with newer holdings.
Investors should still separate exchange listing rules from legislation. Senate action on the CLARITY Act remains a separate track that could reinforce or reshape how digital commodities are treated across U.S. markets.
For now, the practical takeaway is narrower but still significant: Bitcoin, Ether, XRP, and Solana are explicitly framed as digital commodities that meet Nasdaq Texas eligibility criteria under the newly approved Rule 5711(d) amendments.