NYSE Arca Proposal Names XRP Among Qualified Assets for Crypto Commodity Trusts

NYSE Arca has introduced a new rule proposal that explicitly includes XRP among assets that could qualify under updated standards for Commodity-Based Trusts.

The exchange submitted the proposal yesterday to amend Rule 8.201-E, which governs the generic listing standards for such products.

Key Points 

• NYSE Arca identifies XRP, Bitcoin, and Ethereum as examples of assets that could qualify for commodity-based trust products.
• The proposal states that portfolios with up to 85% in approved assets would meet the new eligibility requirements.
• The SEC has opened the filing for public comment before issuing a final decision.
• Although the proposal references XRP, it does not formally classify it as a commodity. 

XRP Named Among Qualified Assets for Commodity Trusts 

The proposal is now under review by the U.S. SEC, which is currently seeking public comments before a final decision is made. Notably, the proposal requires at least 85% of a crypto trust’s net asset value (NAV) to consist of approved assets that already meet existing surveillance and listing requirements. 

Notably, the filing highlights XRP alongside Bitcoin, Solana, and Ethereum as examples of qualifying assets. Moreover, it clarifies portfolio thresholds. A trust holding XRP and other qualifying assets could still meet the standard if up to 15% of its holdings fall outside the approved category. 

According to the exchange, the rule aims to provide greater flexibility for crypto product issuers while maintaining investor protections tied to surveillance-sharing agreements and regulated market oversight.

XRP Not Explicitly Named a Commodity in NYSE Arca Filing 

Although the filing cites XRP as an example, it does not formally classify the asset as a commodity. Even so, XRP’s inclusion is notable given its long-standing role in U.S. regulatory debates.

In 2023, a New York court deemed XRP a non-security, yet legal experts continue to debate whether it qualifies as a commodity. This continued even as the SEC and the CFTC issued a joint taxonomy that classified the token as a digital commodity, alongside Bitcoin and Ethereum.

Nevertheless, despite these developments, industry stakeholders argue that only clear, congress-backed legislation like the Clarity Act can fully resolve regulatory uncertainty and prevent future policy reversals.