The U.S. Securities and Exchange Commission approved Nasdaq Texas rules allowing qualifying Commodity-Based Trust Shares to pursue actively managed strategies and allocate up to 15% of their exposure to specified assets outside the exchange's standard eligibility tests. At least 85% of net asset value must remain in cash, cash equivalents, eligible commodities, commodity-based assets or qualifying securities. The allowance does not authorize unrestricted holdings, and derivatives are measured by gross notional exposure, which can cause a Bitcoin-heavy trust to fall below the threshold. The approval aligns Nasdaq Texas with similar SEC-approved changes for Nasdaq, NYSE Arca and Cboe BZX, enabling qualifying products to list without separate SEC approval under Rule 19b-4(e).