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The U.S. Securities and Exchange Commission (SEC) has opened a new phase in crypto exchange-traded product regulation, seeking public feedback on a proposed NYSE Arca rule change that could affect how crypto ETFs are structured.
NYSE Arca’s proposal would require that at least 85% of a trust’s net asset value be made up of approved assets. Those assets would need to meet existing listing and surveillance standards.
The remaining 15% could include non-qualifying assets under specified conditions, a change that could allow for more diversified crypto exposure within a single product.
The exchange also plans to calculate derivatives exposure using aggregate gross notional value. The proposal says this method differs from traditional market value calculations and may improve transparency.
Under the framework, a trust holding bitcoin (BTC), ether (ETH), Solana (SOL), and XRP could qualify if most assets meet the 85% threshold. By contrast, a structure that relies heavily on derivatives could fail to meet the same requirements.
The proposal further narrows the definition of commodities for these listings. It excludes non-fungible tokens (NFTs) and collectible assets from generic approvals, meaning issuers would need separate approval for such products in the future.
The SEC’s action is part of a broader regulatory shift following Paul Atkins’ leadership start in 2025. The agency is described as prioritizing clarity and structured frameworks rather than aggressive enforcement.
The proposal also points to strengthened coordination with the Commodity Futures Trading Commission (CFTC), supporting policy alignment. The article cites a crypto safe harbor initiative and updated guidance on digital asset classifications as additional steps that may help market participants plan compliant product development.
Separately, Solana (SOL) is described as trading weakly after recent declines. The token is reported near $84.80 on both daily and weekly charts.
Analyst Umair Crypto is cited as saying SOL has lost its point of control at $86.03, which the article frames as a sign of weakening momentum and increased downside risk.
The article also highlights repeated rejection near the $89 to $91 resistance range. It identifies immediate support around $83.30, followed by $81.75. It adds that a breakdown below these levels could move prices toward $74.50, while noting that a projected 60% drop is viewed as unrealistic under current conditions.
Finally, the article characterizes the current setup as suggesting distribution rather than panic selling. It says that if SOL does not reclaim $86 soon, bearish continuation could dominate the short-term outlook.
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