SEC Approves Active Management for Crypto Trusts in Nasdaq Texas

The US Securities and Exchange Commission (SEC) has cleared new rules for Nasdaq Texas regarding commodity-based crypto trusts. This move brings significant changes to how certain cryptocurrency-linked investment products can be structured and listed.

The SEC's approval, outlined in Order No. 34-106268, allows actively managed trust shares to qualify for listing on the exchange. Previously, a strict passive-management requirement was in place. The new rules also introduce a portfolio buffer, permitting up to 15% of net asset value in non-qualifying assets.

BTC, ETH, SOL, and XRP are highlighted as meeting the criteria for digital commodities in the SEC's multi-asset trust example. This classification is not a federal law change but rather an update to exchange listing standards. The approval mirrors a similar rule change for the main Nasdaq Stock Market earlier this year.