SEC Floats Rule Update That Could Streamline Listings for XRP and Other Major Crypto Products

The U.S. Securities and Exchange Commission on Tuesday proposed a rule change that could significantly simplify the path for exchange listings of crypto investment products holding XRP alongside Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). The proposal introduces an \u002285/15\u0022 framework that would allow multi-asset crypto trusts to qualify for listing without requiring an exchange to seek separate SEC approval for each individual product. The filing explicitly identifies XRP as an eligible commodity under the new approach. At the center of the proposal is Rule 8.201E, which sets the standards for listing commodity-based trust shares on NYSE Arca. Under current practice, each asset held by a trust must independently satisfy eligibility requirements. The proposed change would remove that asset-by-asset hurdle and instead require that at least 85% of a trust\u0027s net asset value be invested in qualifying assets, while up to 15% could be allocated to assets that do not meet the standard. The filing names BTC, ETH, SOL and XRP as assets that already qualify. It says each meets two criteria: each underlies a futures contract that has traded on a regulated market for at least six months, and an ETF exists that provides at least 40% economic exposure to each asset. To demonstrate how the standard would work, NYSE Arca cited a hypothetical trust holding $95 million in BTC, ETH, SOL and XRP, plus $5 million in other digital assets that do not meet the eligibility requirements. With qualifying assets comprising 95% of the portfolio, the trust would meet the proposed listing threshold. Nasdaq has submitted a substantially similar filing under SRNASDAQ2026032. NYSE Arca also pointed to earlier SEC approvals as precedent, citing the Grayscale Digital Large Cap Fund and Bitwise\u0027s 10 Crypto Index ETF, both cleared under a comparable 85% standard. The proposal also seeks to exclude non-fungible assets and collectibles from the definition of eligible commodities, arguing such items were not contemplated when the original generic listing standards were established. Once the proposal is published in the Federal Register, the SEC will have up to 45 days to act, with the option to extend the review period to 90 days. In the market, XRP was trading around $1.39 at the time of writing, down about 2% over 24 hours and 3% over the past week. The token is up 4.4% over the last month, but remains nearly 40% below its level a year ago and more than 61% below its all-time high of $3.65 reached in July 2025. ETF activity has been stronger. Spot XRP ETFs have set a new record for cumulative net inflows at $1.29 billion, the highest level since their launch in mid-November 2025.