Overview
- NYSE Arca submitted a change to Rule 8.201-E that explicitly lists XRP alongside Bitcoin, Ethereum, and Solana as eligible assets for commodity-based trust shares, and the SEC has published the proposal for public comment.
- The proposal sets a hard portfolio test that requires a trust to keep at least 85% of its net asset value in qualifying assets, with up to 15% allowed in non-qualifying holdings and daily checks to stay in bounds.
- Under the filing, a digital asset qualifies if it underlies futures that have traded on a designated market for at least six months and if it is tied to existing exchange-traded products, a standard the filing says XRP meets.
- The document does not make a federal legal call on whether XRP is a commodity, and it also shuts the door to non-fungible tokens and collectibles for this generic listing route.
- The exchange’s move builds on a March joint SEC–CFTC taxonomy that identified XRP as a digital commodity and sits alongside reported steps by Coinbase and T. Rowe Price that together point to faster pipelines for institutional XRP products while final SEC action remains pending.