Crypto
SEC Clears Major Cryptos for Commodities Listing Under Nasdaq Texas Rule Change
The U.S. Securities and Exchange Commission (SEC) has cleared four major cryptocurrencies for listing as commodities under Nasdaq's Texas rule change.
Bitcoin, Ethereum, Solana, and XRP have been designated as digital commodities by the order, which aligns with SEC Order No. 34-106268.
The modified framework introduces an official definition of 'digital commodity' in Nasdaq Texas rules and allows for some active management techniques involving cryptocurrencies.
The approved changes provide fund managers with additional flexibility, enabling them to list products that may not meet all the requirements at the point of listing. The allowance is capped at 15% of a fund's net asset value.