The SEC's Nasdaq Texas Order Explained: Bitcoin, Ether, Solana and XRP Named as Digital Commodities and a New 15% Rule for Crypto ETFs
SEC Order 34-106268 approved Nasdaq Texas listing rules that define digital commodities, let commodity trusts hold up to 15% of assets in non-qualifying tokens and drop the requirement that such trusts be passively managed. Bitcoin, Ether, Solana and XRP appear in the order's worked example. What the order does, what the headlines overstate, and why XRP and SOL holders cheered.









