SEC Allows a 15% Sleeve in Multi-Asset Crypto ETF Portfolios

CoinMarketCap cited overseas reporting that the U.S. Securities and Exchange Commission (SEC) has approved adjustments to Nasdaq Texas Rule 5711(d), giving eligible crypto trusts more leeway in how they are structured for listing. The coverage argues the more meaningful takeaway is not the renewed mention of XRP, but an early loosening of portfolio construction rules for multi-asset crypto ETFs. Under the approved framework, at least 85% of a trust's assets must still be invested in holdings that satisfy the general listing standards. Up to 15% can be allocated to other digital commodities or securities that do not meet those standards on a standalone basis. In an illustrative example, the SEC referenced Bitcoin, Ethereum, Solana, and XRP as digital assets that currently meet the criteria for exchange-traded commodity trusts. Overseas outlets interpreted this as placing those tokens within the operational scope of existing listing rules, while emphasizing it does not represent a permanent federal determination of their legal classification. While market attention has centered on whether XRP is ultimately deemed a "commodity," the report said the practical impact is broader: fund managers can now build more diversified products across major crypto categories. As an example, a $100 million trust could allocate $95 million to eligible assets such as Bitcoin, Ethereum, Solana, and XRP, with the remaining $5 million invested in other digital assets that do not individually qualify. The change gives exchanges and issuers additional room to design compliant products. The report added that the regulatory signal did not translate into an immediate price boost for XRP. At the time, XRP traded around $1.40, down about 4% over the prior 24 hours. The decline was attributed largely to macro headwinds, including rising U.S. Treasury yields and expectations the Federal Reserve will keep monetary policy tight. Even so, the article said institutional demand for XRP-related products has not faded. XRP ETFs recorded net inflows for 11 straight trading days, totaling roughly $170 million. Citing institutional holdings data, the report said Goldman Sachs has recently become the largest disclosed holder of the XRP ETF, with an estimated $87.4 million position, ahead of Jane Street and Millennium Management. Overseas media also suggested multi-asset structures could be the next focal point. As Bitcoin, Ethereum, Solana, and XRP increasingly serve as core underlyings in regulated crypto products, attention may shift from which tokens can enter traditional finance to what new products can be built around them. With the ability to pair mainstream assets with a limited allocation to other tokens under a compliant framework and potentially use more active management, the future of crypto ETFs may expand beyond single-asset offerings. The newly permitted 15% sleeve could become an important on-ramp for broader product innovation.