SEC Opens Door to Diversified Crypto Portfolios with 15% Wildcard
The SEC has approved changes to Nasdaq Texas Rule 5711(d), allowing for more flexibility in digital asset investments. The new rule states that at least 85% of a qualifying trust's portfolio must remain invested in assets that satisfy established generic listing requirements, but the remaining 15% can include other digital commodities or certain securities.
The SEC gave an example of a $100 million trust holding $95 million across Bitcoin, Ether, Solana, and XRP, with another $5 million allocated to otherwise non-qualifying digital assets. This gives asset managers more flexibility when constructing diversified crypto investment products.
XRP has been mentioned in the SEC order as one of the digital assets that satisfies the exchange's commodity-based trust standards. However, the decision does not declare all four assets commodities permanently and is concerned with exchange-listing standards rather than federal law.