SEC opens review of NYSE Arca rule that sets an 85% asset threshold for crypto ETF listings.

On April 27, 2026, the SEC opened a public comment period on an NYSE Arca rule change that would require at least 85% of a crypto or commodity trust&#x27;s net asset value to be held in assets already meeting existing eligibility criteria. Bitcoin, Ether, Solana, and <a class="ticker-mention" href="/en-US/token/xrp">XRP</a> all qualify under that standard — each has futures contracts that have traded on designated contract markets for at least six months. The remaining 15% may hold non-qualifying assets, provided the trust stays otherwise compliant.

The stakes become clear in the filing&#x27;s own examples: a trust with 95% split across the four qualifying assets clears the bar; a trust where bitcoin exposure is partly expressed through OTC call options on a bitcoin ETF — dropping qualifying exposure to 71% — fails. Sponsors would be required to monitor the threshold daily and notify NYSE Arca immediately if they fall out of compliance…