SEC Approves Nasdaq Texas Rules, Recognizing Bitcoin and Others as Commodities

The US Securities and Exchange Commission (SEC) has approved a rule change for Nasdaq Texas, allowing it to list commodity-based crypto trusts. This move recognizes Bitcoin, Ether, Solana, and XRP as digital commodities.

The new rules permit actively managed trust shares to qualify for listing, whereas previously they had to be passively managed. The SEC also introduced a portfolio buffer that allows funds to hold up to 15% of their net asset value in non-qualifying assets.

This decision follows joint guidance from the SEC and Commodity Futures Trading Commission (CFTC) earlier this year, which treated these four digital assets as commodities. The Nasdaq Texas order does not create a new federal commodity law but rather changes how the exchange can structure and list certain crypto-linked investment products.

The approval comes before an expected Senate review of the CLARITY Act on September 15, which proposes a broader regulatory framework for digital assets. The SEC's decision is limited to exchange listing standards and does not impact the federal legal status of individual crypto assets.