SEC Approves Nasdaq Texas Rule Change Designating Bitcoin, Ethereum, XRP, and Solana as Digital Commodities
The SEC approved a Nasdaq Texas rule modification designating Bitcoin, Ethereum, XRP, and Solana as digital commodities.
Why it matters
The approval provides fund managers with additional flexibility in their approach to crypto investment products on Nasdaq Texas. However, since only one source has reported this development, the significance and broader market impact remain unclear.
Key facts
The SEC approved a rule modification on Nasdaq Texas related to investment products involving cryptocurrencies
Reported by CoinGape
Bitcoin, Ethereum, Solana, and XRP were designated as digital commodities by the order
Reported by CoinGape
The action was made in accordance with SEC Order No. 34-106268
Reported by CoinGape
The order provides accelerated approval for Nasdaq Texas, LLC to amend Rule 5711(d)
Reported by CoinGape
The adjusted framework introduces an official definition of "digital commodity" in Nasdaq Texas rules
Reported by CoinGape
Products eligible for listing may include assets that at the point of listing do not meet all requirements, but not more than 15% of a fund's net asset value
15 %Reported by CoinGape
What happened
CoinGape reported that the SEC approved a rule modification on Nasdaq Texas related to investment products involving cryptocurrencies. The order designates Bitcoin, Ethereum, Solana, and XRP as digital commodities that meet current eligibility requirements. The framework introduces an official definition of "digital commodity" and allows for some active management techniques involving cryptocurrencies. The SEC's order provides an example of a multi-asset trust including these four assets. Only one outlet has reported this development, so the information should be treated with caution.
How the story developed
- First report
First report by CoinGape
SEC Clears Bitcoin, Ether, XRP, Solana As Commodities Under Nasdaq Texas Rule Change
- Official statement
SEC issued Order No. 34-106268 approving Nasdaq Texas rule change
The SEC approved a rule modification designating Bitcoin, Ethereum, Solana, and XRP as digital commodities
Affected entities
Also mentioned: Nasdaq, United States, Commodity Futures Trading Commission, U.S. Congress, Cardano, Dogecoin, Avalanche
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CoinGape Crypto media | SEC Clears Bitcoin, Ether, XRP, Solana As Commodities Under Nasdaq Texas Rule Change | Original |
