XRP has received another favorable U.S. regulatory signal, but the most consequential part of the latest SEC decision may have little to do with XRP's commodity status alone.
The SEC order approving changes to Nasdaq Texas Rule 5711(d) explicitly uses Bitcoin, Ether, Solana and XRP as examples of digital assets that presently satisfy the exchange's commodity-based trust standards.
That wording is meaningful, but it should not be interpreted as a new federal law permanently declaring all four assets commodities. The decision concerns exchange-listing standards.
The more interesting change is what funds can now hold alongside them.
The Hidden 15% Rule Could Expand Crypto ETFs
Under the SEC-approved framework, at least 85% of a qualifying trust's portfolio must remain invested in assets that satisfy established generic listing requirements.
The remaining 15% can include other digital commodities or certain securities that do not independently meet those standards.
The SEC gives a hypothetical example in which a $100 million trust holds $95 million across Bitcoin, Ether, Solana and XRP, with another $5 million allocated to otherwise non-qualifying digital assets.
That gives asset managers substantially more flexibility when constructing diversified crypto investment products.
The rule also permits actively managed Commodity-Based Trust Shares, extending the framework beyond products that simply track one asset or index.
That may prove more important to future ETF design than another regulatory reference to XRP.
XRP Gets the Signal While Price Falls
The regulatory development has not translated into immediate price strength.
XRP was trading around $1.40, down roughly 4% over 24 hours as broader risk assets came under pressure.
The weakness coincided with rising Treasury yields and renewed expectations for tighter Federal Reserve policy, making the move look more macro-driven than XRP-specific.
At the same time, institutional demand has remained considerably stronger than the token price suggests. Recent XRP ETF flows included an 11-session inflow streak worth roughly $170 million.
Large financial firms are also building positions. Goldman Sachs recently emerged as the largest disclosed XRP ETF holder with about $87.4 million, ahead of Jane Street and Millennium Management, according to recent institutional holdings data.
The Bigger Story Is What Comes After Single-Asset ETFs
For XRP, the Nasdaq Texas language adds another favorable signal to a regulatory picture already changing quickly.
The broader crypto market framework is increasingly shifting away from the old question of whether major digital assets can enter traditional finance.
They already have.
The next question is what financial products can be built around them.
By allowing qualifying trusts to combine major digital commodities with a limited allocation to other assets — and by supporting active management — the SEC has given exchanges and asset managers more room to experiment with diversified crypto portfolios.
That makes the headline bigger than “XRP was called a commodity.”
Bitcoin, Ether, Solana and XRP are increasingly becoming the core building blocks of regulated crypto products — and the new 15% flexibility could determine what gets added next.