TLDR
- NYSE Arca filed SR-NYSEARCA-2026-42 to amend Rule 8.201-E.
- The plan sets an 85% NAV test for eligible assets or cash.
- Up to 15% may include other assets that do not qualify alone.
- Derivatives would be measured by aggregate gross notional value.
- NFTs and collectibles are excluded from the commodity definition.
A new SEC notice could give crypto basket ETFs a faster route to market. NYSE Arca filed a rule change that would let certain commodity-based trust shares list under generic standards. The filing centers on funds tied mostly to eligible assets, including Bitcoin, Ether, Solana, and XRP, while allowing a smaller bucket for other assets.
NYSE Arca Seeks Changes to Generic Listing Rules
NYSE Arca filed the proposed rule change as File No. SR-NYSEARCA-2026-42. The exchange wants to amend Rule 8.201-E, which covers Commodity-Based Trust Shares. This structure is used by many spot commodity and crypto trust products.
The SEC notice was published on April 27, 2026. The agency is seeking public comments on the proposal. The comment deadline will be 21 days after publication in the Federal Register.
The proposal would not approve any single fund by name. Instead, it would update the exchange’s generic listing standards. That could let qualifying products list without a separate case-by-case SEC approval order.
Filing Creates an 85% Asset Test
The core proposal creates an 85% test for trust assets. At least 85% of a trust’s net asset value must be held in eligible assets, cash, or cash equivalents. The filing names assets that already meet existing generic listing standards.
These include Bitcoin, Ether, Solana, and XRP. For derivatives, the exchange would count exposure using aggregate gross notional value. The remaining 15% could include other assets. These may include commodities, crypto assets, securities, or other holdings that do not qualify alone. The sponsor would need to monitor the test each day.
If the trust falls below the 85% level, the sponsor would need to rebalance. This rule is designed to keep most exposure in the eligible asset group. It also gives issuers room to build broader baskets.
NFTs and Collectibles Excluded from Commodity Bucket
The filing also says NFTs and collectibles would not count as commodities. That means these assets would not fit within the commodity bucket for generic approval. Meme-linked collectibles would also remain outside this route.
For issuers, the proposal creates a clear 85/15 structure. A crypto basket trust could hold mostly major eligible assets. It could also add limited exposure to smaller or less mature assets. The filing builds on generic listing standards approved in 2025 for commodity-based ETPs. Those standards created a path for products tied to assets with stronger market surveillance.
The new proposal applies that framework to basket products. It could reduce the need for repeated individual reviews. It may also help sponsors design funds around large, surveilled assets. The SEC has not approved the rule change yet. Public comments are still part of the review process. The final result will depend on the agency’s decision after comments are received.
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