Key Insights:
- US SEC approval puts crypto news in focus as BTC, ETH, SOL and XRP gain commodity recognition.
- Listed crypto trusts may hold up to 15% of NAV in non-qualifying assets.
- Nasdaq Texas rules now permit actively managed commodity-based crypto trusts.
Crypto news returned to U.S. regulatory focus after the US Securities and Exchange Commission (SEC) approved a Nasdaq Texas rule change. The order adds a formal definition of digital commodities to listing standards for commodity-based trust shares.
Bitcoin, Ether, Solana, and XRP appear to be digital commodities that meet the relevant criteria in the SEC order. The approval also gives qualifying crypto products greater flexibility in portfolio construction and management.
The decision came through US SEC Order No. 34-106268, which granted accelerated approval for Nasdaq Texas, LLC. The exchange amended Rule 5711(d), governing commodity-based trust shares listed on Nasdaq Texas.
The change in crypto news does not create a new federal commodity law or establish a broader statutory classification. Instead, it changes how the exchange can structure and list certain crypto-linked investment products.
US SEC Adds Digital Commodity Definition to Texas Rules
Nasdaq Texas now includes an official definition of “digital commodity” within its listing rules. The definition focuses on functional operation, supply, and demand rather than managerial profit expectations. Bitcoin, Ether, Solana, and XRP satisfy the required criteria in the SEC’s multi-asset trust example.
Crypto news around the order also centers on a new portfolio buffer for commodity-based trust shares. Funds may hold up to 15% of net asset value in assets that do not fully qualify.
At least 85% must remain invested in core assets meeting the applicable listing standards. That allowance can include alternative digital commodities or other assets outside the qualifying core.
The US SEC order also removes the strict passive-management requirement previously applied to these products. Actively managed commodity-based trust shares may therefore qualify for listing under the revised exchange framework.
The rule expands permitted management approaches without changing the federal legal status of individual crypto assets. It also limits how much non-qualifying exposure a listed product may hold.
Crypto News Framework Follows Earlier SEC-CFTC Guidance
The Nasdaq Texas change follows joint SEC-CFTC interpretive guidance that took effect earlier in 2026. That guidance also treated Bitcoin, Ether, Solana, and XRP as crypto commodities.
It included Cardano, Avalanche, Dogecoin, Shiba Inu, and Chainlink among other digital assets. However, the Texas order highlights Bitcoin, Ether, Solana, and XRP within its multi-asset trust example.
The approval also mirrors a similar rule change for the main Nasdaq Stock Market in July 2026. Those actions apply comparable commodity-based trust structures across the two Nasdaq venues.
The approval concerns exchange rules, not legislation creating a nationwide digital asset classification system. The latest order applies to exchange listing standards and products, not a new federal commodities statute.
SEC Decision Comes Before CLARITY Act Review
The US SEC action comes before an expected Senate review of the CLARITY Act on September 15. The bill proposes a broader regulatory framework for digital assets.
The Nasdaq Texas order operates separately from that legislative process and remains limited to exchange listing standards. Its immediate effect concerns how certain commodity-based trust shares may qualify for trading on Nasdaq Texas.
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