SEC Seeks Public Comment on NYSE Arca's 85% Asset Rule Proposal, Potentially Impacting Crypto ETF Listing Structure

On April 28, the U.S. Securities and Exchange Commission (SEC) issued a notice seeking public comment on a proposed rule change by NYSE Arca. The proposal requires that at least 85% of the assets in commodity trust shares must meet existing qualification standards, with derivatives calculated based on notional value. Eligible assets include Bitcoin, Ethereum, Solana, and XRP, which have been traded on designated markets for at least six months and have exchange-traded products providing significant exposure, while NFTs and collectibles are explicitly excluded. If a trust holds Bitcoin and over-the-counter call options on Bitcoin ETFs, only about 71% of the exposure would meet the requirements, making it ineligible. The proposal aims to allow more products to be listed while limiting most exposure to monitorable asset categories. The SEC can approve, deny, or initiate related proceedings during the review period.

BTC2.13%
ETH2.88%
SOL1.58%
XRP1.8%
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