Bitcoin
SEC Clears Generic Listing Rules for Commodity Trusts on Nasdaq Texas
The SEC approved a listing standard change for Nasdaq Texas commodity trusts, referencing Bitcoin, Ethereum, Solana, and XRP as worked examples.
The U.S. Securities and Exchange Commission approved an accelerated rule change on September 3 for Nasdaq Texas, modifying Rule 5711(d) regarding generic listing standards for commodity-based trust shares.
While online commentary described the move as a formal declaration of commodity status for the assets involved, the decision specifically applies to listing requirements on a single exchange. Bitcoin, Ethereum, Solana, and XRP appeared in the filing as part of an illustrative calculation showing how a 15% holdings buffer functions for a hypothetical $95 million trust.
The SEC noted that the four cryptocurrencies already qualify under existing criteria, which require underlying futures contracts to trade on an ISG market for at least six months and an ETF offering at least 40% economic exposure. Similar generic listing standards were previously approved in July for Nasdaq, NYSE Arca, and Cboe.
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