Notice2023-21622
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; 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. 3, To List and Trade Shares of the ARK 21Shares Bitcoin ETF Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
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
October 2, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 189 (Monday, October 2, 2023)</title>
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[Federal Register Volume 88, Number 189 (Monday, October 2, 2023)]
[Notices]
[Pages 67851-67852]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-21622]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98530; File No. SR-CboeBZX-2023-028]
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; 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. 3, To List and Trade Shares of the ARK
21Shares Bitcoin ETF Under BZX Rule 14.11(e)(4), Commodity-Based Trust
Shares
September 26, 2023.
On April 25, 2023, Cboe BZX Exchange, Inc. (``BZX'' or
``Exchange'') 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 ARK 21Shares
Bitcoin ETF under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares.
The proposed rule change was published for comment in the Federal
Register on May 15, 2023.\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. 97461 (May 9, 2023),
88 FR 31045. Comments received on the proposed rule change can be
found at: <a href="https://www.sec.gov/comments/sr-cboebzx-2023-028/srcboebzx2023028.htm">https://www.sec.gov/comments/sr-cboebzx-2023-028/srcboebzx2023028.htm</a>.
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On June 15, 2023, 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 June 28, 2023, the Exchange filed Amendment No. 1 to the
proposed rule change, which amended and replaced the proposed rule
change in its entirety. On June 30, 2023, the Exchange filed Amendment
No. 2 to the proposed rule change, which amended and replaced the
proposed rule change, as modified by Amendment No. 1, in its entirety.
On July 11, 2023, the Exchange filed Amendment No. 3 to the proposed
rule change, which amended and replaced the proposed rule change, as
modified by Amendment No. 2, in its entirety. On August 11, 2023, the
Commission published notice of Amendment No. 3 to the proposed rule
change and instituted proceedings under Section 19(b)(2)(B) of the Act
\6\ to determine whether to approve or disapprove the proposed rule
change, as modified by Amendment No. 3.\7\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 97732, 88 FR 40877
(June 22, 2023). The Commission designated August 13, 2023, as the
date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to disapprove, the
proposed rule change.
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 98112, 88 FR 55743
(Aug. 16, 2023).
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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 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 May 15,
2023.\9\ The 180th day after publication of the proposed rule change is
November 11, 2023. 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.
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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
[[Page 67852]]
to consider the proposed rule change, as modified by Amendment No. 3,
and the issues raised therein. Accordingly, the Commission, pursuant to
Section 19(b)(2) of the Act,\10\ designates January 10, 2024, as the
date by which the Commission shall either approve or disapprove the
proposed rule change, as modified by Amendment No. 3 (File No. SR-
CboeBZX-2023-028).
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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).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21622 Filed 9-29-23; 8:45 am]
BILLING CODE 8011-01-P
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