The U.S. Securities and Exchange Commission (SEC) proposed a rule change yesterday that would make it significantly easier to list crypto investment products that include XRP alongside Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
The filing formally recognizes XRP as an eligible commodity under a proposed 85/15 framework. Under this framework, multi-asset crypto trusts could gain listed status without each product requiring separate SEC approval from the exchange.
What the Filing Actually Says
The proposal targets Rule 8.201-E, which governs how commodity-based trust shares are listed on NYSE Arca. Currently, each asset in these trusts must independently meet specific eligibility criteria.
The new rule would remove that requirement. Instead, a trust would need to hold at least 85% of its net asset value in qualifying assets, allowing the remaining 15% to contain assets that do not meet the eligibility standards.
Bitcoin, Ethereum, Solana, and XRP are explicitly named in the filing as assets that already qualify. Each asset meets the criteria on two counts: it underlies a futures contract that has traded on a regulated market for at least six months, and there is an ETF providing at least 40% economic exposure to it.
To illustrate the proposal, the filing uses a hypothetical trust holding $95 million in BTC, ETH, SOL, and XRP and $5 million in other digital assets that do not meet the eligibility standards. Because the qualifying assets represent 95% of the portfolio—well above the 85% threshold—the trust would satisfy the listing requirements under the proposed change.
Nasdaq filed an essentially identical proposal under SR-NASDAQ-2026-032. NYSE Arca cited two prior SEC approvals as precedent: the Grayscale Digital Large Cap Fund and Bitwise’s 10 Crypto Index ETF, both of which were cleared under a comparable 85% standard.
The filing also proposed excluding non-fungible assets and collectibles from the definition of eligible commodities, since those categories were not intended to be covered by the original generic listing standards.
The SEC now has up to 45 days from the Federal Register publication date to act on the proposal, with the option to extend that period to 90 days.
XRP Price Context and ETF Flows
Analysts described the development as a major step for XRP, but the token has struggled to separate from broader market weakness. At the time of writing, XRP was trading around $1.39, down roughly 2% over the past 24 hours and about 3% over seven days.
While XRP is up approximately 4.4% over the past month, it remains nearly 40% lower than a year ago and more than 61% below its all-time high of $3.65 reached in July 2025.
On the ETF front, however, flows have been stronger. Spot XRP ETFs recently recorded a new high for cumulative net inflows at $1.29 billion, the highest since their launch in mid-November 2025.