Quick Read
The SEC’s Nasdaq Texas rule permits funds like TKNZ to allocate up to 15% of their net asset value into holdings that do not meet standard listing requirements, thereby broadening the availability of regulated, multi-asset cryptocurrency <a digital commodities" represents an agency interpretation rather than a formal statute. Consequently, this designation remains subject to reversal by a future administration or through judicial intervention.
Brad Garlinghouse has called on Congress to finalize cryptocurrency legislation; however, the House of Representatives canceled its September votes, which will likely delay any final passage until a post-election lame-duck session.
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Bitcoin, Ethereum, Solana, and XRP are mentioned in the order as part of a practical example, though the ruling did not specifically address their legal status. The SEC described a hypothetical trust holding $95 million in market value across these four coins, noting that all of them currently qualify as eligible commodities under the exchange’s existing criteria.
