SEC 85% rule for crypto ETF assets: NFTs excluded
The SEC has opened a public consultation on a NYSE Arca proposal covering the SEC 85% rule for crypto ETF assets. Under the draft, at least 85% of a crypto ETF’s total value must be held in pre-approved, clearly defined eligible holdings. Up to 15% may be invested in other asset classes if specific conditions are met.
The SEC 85% rule for crypto ETF assets would also change how derivative exposure is monitored, using gross notional size instead of net value to improve transparency of risk.
A major eligibility tightening is also proposed: tokens deemed to have “collectible value,” including NFTs, would be excluded. Issuers would need product-by-product special approval to include such collectibles.
In parallel, Solana (SOL) is trading weaker. SOL failed to reclaim the $89–$91 resistance zone and is hovering near $84.80. Key supports are cited at $83.30 and $81.75, with downside risk toward $74.50 if those levels break.
Bearish
For SOL specifically, the latest article emphasizes price weakness and failed breakout attempts. SOL is stuck below the $89–$91 resistance band and is trading near $84.80. That setup usually invites sellers to defend rallies and can trigger further downside if $83.30 and then $81.75 give way.
The SEC 85% rule for crypto ETF assets mainly affects ETF product structuring and NFT eligibility rather than SOL’s immediate fundamentals. So, its impact on SOL price is likely indirect at best (sentiment/flow effects). In the near term, traders will likely focus on SOL’s technical levels and risk management, which aligns with a bearish classification.
Short-term: elevated risk of a continuation sell-off toward $74.50 if supports break.
Long-term: the SEC’s move could be neutral to marginally constructive for broader regulated-crypto narratives, but it does not provide a clear catalyst for SOL itself in the information provided.