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XRP XRP received another positive signal from U.S. regulation, but the SEC's latest decision goes far beyond the "commodity" identity itself
XRP received another positive signal from U.S. regulation. However, the most far-reaching part of the SEC's latest decision may not be about whether XRP is recognized as a commodity. [TAG
The SEC's directive approving changes to Nasdaq Texas Rule 5711(d) explicitly lists Bitcoin, Ether, Solana and XRP as examples of digital assets that currently meet the exchange's commodity-based trust standards. The wording is symbolic, but should not be interpreted as a new federal law permanently declaring all four assets commodities. The core of the decision lies in the exchange listing standards.
A more attractive change is what other assets funds can now allocate in their portfolios.
The "hidden" 15% rule may widen the boundaries of cryptocurrency ETFs
Under the framework of SEC approval, at least 85% of the funds in a qualified trust investment portfolio must be invested in assets that meet established general listing requirements. The remaining 15% can include other digital commodities or certain securities that fail to independently meet these criteria.
The SEC provided a hypothetical case: a $100 million trust, of which $95 million was invested in Bitcoin, Ethereum, Solana, and XRP, and the other $5 million was allocated to other digital assets that did not meet the eligibility criteria. This regulation gives asset management companies greater flexibility when building diversified crypto investment products.
In addition, the rule allows the issuance of actively managed Commodity-Based Trust Shares, extending the framework away from products that track only a single asset or index. This may have a more important impact on the design of future ETFs than mentioning the commodity attributes of XRP again.
Although XRP received favorable regulatory benefits, prices fell under pressure
Despite positive changes in the regulatory environment, this did not immediately translate into a strong price increase. XRP, trading at about $1.40, has fallen about 4% in the past 24 hours, mainly due to pressure on broader risky assets.
This weakness is consistent with rising government bond yields and the return of market expectations for further tightening of the Fed's policy, making this trend seem more driven by macro factors than fundamental changes unique to XRP.
At the same time, institutional demand remains much stronger than the level reflected in the token price. Recent XRP ETF capital flow data showed an 11-trading day net inflow totaling approximately US$170 million.
Large financial institutions are also actively establishing positions. According to the latest institutional position data, Goldman Sachs has become the largest holder of the disclosed XRP ETF, with approximately $87.4 million in positions, surpassing institutions such as Jane Street and Millennium Management.
The bigger story lies behind the single-asset ETF
For XRP, the NASDAQ Texas wording adds another positive signal to the already rapidly changing regulatory landscape. The broader crypto market framework is gradually moving away from the old debate about whether major digital assets can enter the traditional financial system-and the answer is clearly yes, they have already entered.
The key question now becomes: What kind of financial products can be built around these assets.
By allowing eligible trusts to combine major digital commodities with a limited proportion of other assets and supporting proactive management, the SEC provides exchanges and asset management companies with more space to explore diversified crypto investment portfolios.
Therefore, the core significance of this news goes far beyond "XRP is recognized as a commodity." Bitcoin, Ethereum, Solana and XRP are increasingly becoming the core building blocks of regulated crypto products, and the new 15% flexibility will determine which assets can be included next.
