SEC approves Nasdaq Texas digital commodity rule

• The SEC has approved Nasdaq Texas’s changes to listing standards for commodity-based trust shares.
• The rule adds a digital commodity definition and permits up to 15% of net asset value in certain non-qualifying assets.
• It also removes the passive-management requirement, allowing actively managed products to use the framework.

The US Securities and Exchange Commission (SEC) has approved Nasdaq Texas’s changes to Rule 5711(d), which covers listing standards for commodity-based trust shares.

The amendment allows up to 15% of a trust’s net asset value to comprise certain assets that do not meet existing eligibility requirements.

The rule also adds a definition of “digital commodity” and removes the requirement for products using the standards to follow passive management strategies.

At least 85% of a trust’s net asset value must still consist of assets that meet the existing eligibility standards under Rule 5711(d).

The SEC order said the digital commodity definition covers digital assets whose value derives from the operation of a functional crypto system and supply and demand rather than managerial efforts.

Nasdaq Texas filed the proposed amendment on August 20, 2026, before the SEC granted accelerated approval on September 3.

The approval changes Nasdaq Texas’s generic listing framework but does not itself approve any specific crypto exchange-traded product for listing.