SEC seeks public comment on the 85% asset regulation for Arca NYSE crypto ETF

The SEC has opened a public comment period on proposed amendments to Arca’s rules under the NYSE, related to asset standards in commodity trusts.

The proposal requires at least 85% of the fund’s assets to meet current qualifying criteria, with derivatives counted at their gross notional value. The SEC may approve, reject, or initiate related procedures during the review period.

Eligible assets include Bitcoin, Ethereum, Solana, and XRP, provided they have futures contracts traded on a designated market for at least six months and have appeared significantly in exchange-traded products. NFTs and collectibles are completely excluded.

According to the proposal, if the trust holds OTC call options on Bitcoin and Bitcoin ETFs, only about 71% of the exposure level will meet the requirements, resulting in the application not being approved. The goal of the change is to open the door for more products while limiting most exposure to trackable assets.

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