NYSE Files Rule Change Naming XRP for Commodity Trusts

TLDR

• NYSE Arca filed a proposal to amend Rule 8.201-E for Commodity-Based Trust Shares.
• The proposal names XRP among digital assets that could qualify under updated standards.
• The exchange requires at least 85% of a trust’s net asset value to hold approved assets.
• A trust may allocate up to 15% of its holdings to non-approved assets under the rule.
• The filing does not classify XRP as a commodity under federal law.

NYSE Arca has filed a rule change that references XRP as a potential asset for commodity-based trust products. The exchange submitted the amendment to Rule 8.201-E to the U.S. Securities and Exchange Commission. The SEC has opened the proposal for public comment before issuing a final decision.

NYSE and XRP Included in Updated Commodity Trust Standards

NYSE Arca submitted the proposed amendment on Tuesday to revise generic listing standards. The filing addresses Commodity-Based Trust Shares under Rule 8.201-E and outlines updated eligibility requirements. The exchange identified XRP, Bitcoin, Ethereum, and Solana as examples of assets that could qualify under the framework.

The proposal states that a crypto trust must hold at least 85% of its net asset value in approved assets. Therefore, a portfolio may allocate up to 15% of holdings to assets outside the approved category. The exchange wrote that the rule would “provide greater flexibility for issuers” while maintaining surveillance-sharing agreements and regulated oversight.

NYSE Arca explained that approved assets must already meet existing listing and surveillance standards. As a result, trusts that concentrate on qualifying digital assets could seek streamlined approval. The filing does not create a new asset classification but sets portfolio thresholds for compliance.

The SEC has published the filing and invited public comments on the proposal. The agency will review submissions before deciding whether to approve or reject the rule change. The process follows standard procedures under the Securities Exchange Act.

Regulatory Context Surrounding XRP and Other Digital Assets

The filing references XRP as an example but does not classify it as a commodity. Instead, NYSE Arca lists it among digital assets that could meet eligibility criteria. The document avoids making a formal legal determination about the token’s status.

In 2023, a federal court in New York ruled that XRP was not a security in certain transactions. That decision addressed sales on public exchanges and programmatic distributions. However, the ruling did not settle broader classification questions.

The SEC and the Commodity Futures Trading Commission later issued a joint taxonomy statement. In that statement, the agencies described XRP, Bitcoin, and Ethereum as digital commodities. The filing does not rely on that taxonomy to define XRP’s legal status.

Industry participants continue to debate whether XRP qualifies as a commodity under federal law. Some stakeholders support legislative proposals such as the Clarity Act to address digital asset classifications.

The comment period remains open following publication in the Federal Register. After that period closes, the SEC will determine the next procedural steps. The agency will issue its decision based on the submitted record.

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