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The SEC wants change. Big change.
The agency dropped a proposal yesterday that lets crypto investment products bundle XRP with Bitcoin, Ethereum, and Solana without jumping through hoops for each individual asset. It’s called the 85/15 framework, and it basically says: keep 85% of your trust in approved assets, do whatever you want with the other 15%. No more begging for permission every single time you add something new to the mix.
For XRP holders, this matters. A lot. The token’s been stuck in regulatory limbo for years, treated differently than BTC or ETH in a lot of contexts. Now the SEC’s putting it in the same bucket as those two plus Solana, at least for listing purposes. The reason? Futures contracts and ETFs that provide at least 40% economic exposure. XRP checks those boxes now, so it qualifies. Simple as that.
How the 85/15 Framework Works
The proposal targets Rule 8.201-E, which governs commodity-based trust shares on NYSE Arca. Right now, every asset in a trust needs to meet specific eligibility criteria individually. That’s slow. It’s clunky. And it keeps a lot of products off exchanges.
The new rule scraps that requirement. Instead, a trust just needs to maintain 85% of its net asset value in qualifying assets—Bitcoin, Ethereum, Solana, XRP. The remaining 15% can be pretty much anything else, no questions asked. Non-qualifying stuff. Experimental tokens. Whatever fund managers think makes sense.
Here’s how it’d work in practice: say a trust holds $95 million in BTC, ETH, SOL, and XRP combined. Then it throws $5 million into some smaller-cap tokens that don’t have futures contracts yet. That’s 95% qualifying, 5% non-qualifying. Way above the 85% threshold. The trust gets listed, no problem.
Nasdaq filed a similar proposal too—SR-NASDAQ-2026-032. Both exchanges are pointing to recent SEC approvals for the Grayscale Digital Large Cap Fund and Bitwise’s 10 Crypto Index ETF as proof this kind of thing already works. They’re saying: you already said yes to multi-asset products, now just formalize the rules so everyone knows where they stand.
One thing the SEC made clear: no NFTs, no collectibles. Those weren’t part of the original standards, so they’re out. The agency’s drawing a line between fungible tokens with liquid markets and one-of-a-kind digital art or gaming items. Makes sense, probably. Keeps things simpler.
XRP Price Keeps Sliding
The proposal’s a win on paper. But XRP’s price? Not feeling it.
The token’s trading at $1.39 right now, down 2% in the last 24 hours and 3% over the past week. It’s sitting 40% lower than a year ago. And it’s more than 61% below the July 2025 peak of $3.65. That’s brutal.
So what gives? Market’s been weak across the board lately. Bitcoin’s had its own struggles. Ethereum too. XRP’s not alone in the pain, but it’s definitely feeling it harder than most. Regulatory news doesn’t always translate to immediate price pumps, especially when broader sentiment’s murky.
But here’s the bright spot: spot XRP ETFs are doing fine. Really fine, actually. Since launching in November 2025, they’ve pulled in $1.29 billion in net inflows. That’s a record. Institutional money’s coming in, even if retail traders are sitting on their hands. The ETF flows show there’s real demand for XRP exposure through traditional investment products, which is kind of the whole point of this SEC proposal in the first place.
What Happens Next
The SEC’s got 45 days from the Federal Register publication date to make a call. They can stretch that to 90 days if they need more time. So we’re looking at somewhere between a month and a half to three months before we know if this thing’s approved.
If it goes through, multi-asset trusts that include XRP can list way faster. No more waiting around for individual asset approvals. Fund managers get flexibility. Investors get more product choices. Exchanges get more listings. Everyone wins, theoretically.
The crypto community’s watching this close. The proposal doesn’t just matter for XRP—it sets a precedent for how the SEC handles multi-asset crypto products going forward. If the 85/15 framework becomes standard, we’ll probably see a flood of new trusts and ETFs that mix and match different tokens based on what fund managers think will perform well.
The SEC’s also making a clear statement about what counts as a “real” crypto asset for listing purposes. Futures contracts, significant ETF exposure, liquid markets—those are the benchmarks. Tokens that meet those standards get the green light. Tokens that don’t, well, they can still be in the 15% bucket, but they’re not carrying the portfolio.
Nasdaq’s parallel filing shows this isn’t just an NYSE Arca thing. Multiple exchanges want the same flexibility. That coordination suggests the industry’s been pushing for this behind the scenes for a while. The Grayscale and Bitwise approvals probably gave everyone the confidence to ask for formal rule changes instead of going case-by-case.
XRP’s inclusion in the qualifying asset list is the headline, but the bigger story’s probably the framework itself. It’s a shift toward more permissive, more flexible crypto product regulation. Less micromanaging, more broad standards. That’s what the industry’s been asking for.
The 90-day window gives the SEC time to gather feedback, tweak details if needed, maybe push back on parts of the proposal. But the fact that both NYSE Arca and Nasdaq filed similar proposals at basically the same time suggests there’s momentum here. The exchanges wouldn’t waste time on filings they thought had zero chance.
XRP ETF inflows hit $1.29 billion total since November 2025. That number keeps climbing even while the token’s price stays stuck. It’s a weird disconnect, but it shows institutional appetite’s different from retail sentiment right now. Big money wants exposure through regulated products. Retail’s maybe waiting for clearer price direction.
The proposal excludes non-fungible assets explicitly. That’s smart, keeps the focus narrow. NFTs and collectibles bring a whole different set of valuation and liquidity problems. The SEC’s saying: we’re not ready to deal with that complexity in these trust structures yet. Stick to fungible tokens with deep markets and established derivatives.
Hub: XRP price, news, and analysis
Frequently Asked Questions
What does the SEC’s 85/15 framework mean for XRP?
The framework lets multi-asset crypto trusts include XRP as a qualifying asset alongside Bitcoin, Ethereum, and Solana, requiring 85% of the trust’s value in qualifying assets and allowing 15% in non-qualifying assets without individual SEC approval.
Why is XRP’s price down despite the SEC proposal?
XRP dropped 2% in 24 hours and trades at $1.39, down 61% from its July 2025 peak of $3.65, reflecting broader market weakness even as spot XRP ETFs reached $1.29 billion in cumulative inflows since November 2025.
How long until the SEC decides on the proposal?
The SEC has 45 days from Federal Register publication to decide, with an option to extend the review period up to 90 days total.
