A draft bill from the Senate Banking Committee, released by Sen. Tim Scott, would treat certain tokens as “non-ancillary” if they served as the principal asset of an exchange-traded product listed on a national securities exchange as of January 1, 2026, effectively removing them from SEC securities rules and related disclosure requirements (Ed. note: the date January 1, 2026, determines eligibility). The provision appears in the text of the bill, which is available as the draft.
Under the draft, tokens already in ETPs would gain parity with Bitcoin and Ethereum. That list most directly includes XRP, Solana, Litecoin, Hedera, Dogecoin, and Chainlink.
Experts say the change would mostly affect institutional compliance and access rather than immediate market prices. “If this language survives into the final bill, the immediate impact would be less about prices and more about compliance posture,” said Jordan Jefferson.
Other industry voices framed the move as a regulatory shift tied to financial products. “Finalizing this bill with a ‘non‑ancillary’ label tied to ETFs would likely pull XRP, SOL, and DOGE into the same compliance comfort zone that unlocked institutional demand for BTC and ETH,” said Joshua Chu.
Political hurdles remain and the bill faces a Senate Banking Committee markup hearing this Thursday. Market observers cite Myriad data showing an 18% probability for an early altcoin season, with the specific market odds cited by traders.
