Notice2022-04423
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the Valkyrie XBTO Bitcoin Futures Fund Under Nasdaq Rule 5711(g)
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 3, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 42 (Thursday, March 3, 2022)</title>
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[Federal Register Volume 87, Number 42 (Thursday, March 3, 2022)]
[Notices]
[Pages 12211-12212]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-04423]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94316; File No. SR-NASDAQ-2021-066]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on
Proceedings To Determine Whether To Approve or Disapprove a Proposed
Rule Change, as Modified by Amendment No. 1, To List and Trade Shares
of the Valkyrie XBTO Bitcoin Futures Fund Under Nasdaq Rule 5711(g)
On August 23, 2021, The Nasdaq Stock Market LLC (``Nasdaq'') filed
with the Securities and Exchange Commission (``Commission''), pursuant
to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'')
\1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to list and
trade shares of the Valkyrie XBTO Bitcoin Futures Fund under Nasdaq
Rule 5711(g). On August 25, 2021, Nasdaq filed Amendment No. 1 to the
proposed rule change. The proposed rule change, as modified by
Amendment No. 1, was published for comment in the Federal Register on
September 9, 2021.\3\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 92865 (Sept. 2,
2021), 86 FR 50570.
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On September 29, 2021, pursuant to Section 19(b)(2) of the Act,\4\
the Commission designated a longer period within which to approve the
proposed rule change, disapprove the proposed rule change, or institute
proceedings to determine whether to disapprove the proposed rule
change.\5\ On December 7, 2021, the Commission instituted proceedings
under Section 19(b)(2)(B) of the Act \6\ to determine whether to
approve or disapprove the proposed rule change.\7\ The Commission has
received no comments on the proposed rule change.
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 93172, 86 FR 55071
(Oct. 5, 2021).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 93731, 86 FR 70882
(Dec. 13, 2021).
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Section 19(b)(2) of the Act \8\ provides that, after initiating
proceedings, the Commission shall issue an order approving or
disapproving the proposed rule change not later than 180 days after the
date of publication of notice of filing of the proposed rule change.
The Commission may extend the period for issuing an order approving or
disapproving the proposed rule change, however, by not more than 60
days if
[[Page 12212]]
the Commission determines that a longer period is appropriate and
publishes the reasons for such determination. The proposed rule change
was published for comment in the Federal Register on September 9,
2021.\9\ The 180th day after publication of the proposed rule change is
March 8, 2022. The Commission is extending the time period for
approving or disapproving the proposed rule change for an additional 60
days.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ See supra note 3 and accompanying text.
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The Commission finds that it is appropriate to designate a longer
period within which to issue an order approving or disapproving the
proposed rule change so that it has sufficient time to consider the
proposed rule change and the issues raised in any comments submitted in
connection therewith. Accordingly, the Commission, pursuant to Section
19(b)(2) of the Act,\10\ designates May 7, 2022, as the date by which
the Commission shall either approve or disapprove the proposed rule
change (File No. SR-NASDAQ-2021-066), as modified by Amendment No. 1.
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\10\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(57).
Dated: February 25, 2022.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022-04423 Filed 3-2-22; 8:45 am]
BILLING CODE 8011-01-P
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