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The U.S. Securities and Exchange Commission is seeking public comment on proposed changes to listing standards for crypto-based exchange-traded products.
The SEC has opened a public comment period on a rule change proposed by NYSE Arca, The Block reported on April 28. The proposal would revise requirements for product structure.
The central provision would require at least 85% of a product’s assets to consist of holdings that already meet existing listing standards. The remaining 15% could be invested in assets that do not meet those standards, provided the product still satisfies overall regulatory requirements.
NYSE Arca said the threshold is intended to give issuers more flexibility in product design while ensuring core holdings remain aligned with surveillance systems and regulatory standards.
The proposal also would measure listed and over-the-counter derivatives by total notional value rather than by simple market value.
Under the proposal, a product would be considered compliant if 95% of its weighting consists of major assets such as Bitcoin, Ether, Solana and XRP. By contrast, a product made up of Bitcoin and ETF options, with only about 71% meeting the standard, would not satisfy the listing requirement.
The proposal would also revise the definition of "commodity" by excluding non-fungible assets such as NFTs and collectibles.
The market views the proposed rule change as part of a broader shift from case-by-case approvals toward a standardized listing framework. The SEC has recently intensified its focus on regulatory clarity and product structure.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
