Notice2024-09079
Self-Regulatory Organizations; NYSE Arca, 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. 1, To List and Trade Shares of the Grayscale Ethereum Trust Under NYSE Arca Rule 8.201-E (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
April 29, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 83 (Monday, April 29, 2024)</title>
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[Federal Register Volume 89, Number 83 (Monday, April 29, 2024)]
[Notices]
[Page 33414]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09079]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-100014; File No. SR-NYSEArca-2023-70]
Self-Regulatory Organizations; NYSE Arca, 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. 1, To List and Trade Shares of the Grayscale
Ethereum Trust Under NYSE Arca Rule 8.201-E (Commodity-Based Trust
Shares)
April 23, 2024.
On October 10, 2023, NYSE Arca, Inc. (``NYSE Arca'' 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 (``Shares'') of the
Grayscale Ethereum Trust (``Trust'') under NYSE Arca Rule 8.201-E
(Commodity-Based Trust Shares). The proposed rule change was published
for comment in the Federal Register on October 27, 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. 98780 (Oct. 23,
2023), 88 FR 73892. Comments on the proposed rule change are
available at: <a href="https://www.sec.gov/comments/sr-nysearca-2023-70/srnysearca202370.htm">https://www.sec.gov/comments/sr-nysearca-2023-70/srnysearca202370.htm</a>.
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On December 5, 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 January 25, 2024, 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\ On March 15, 2024,
the Exchange filed Amendment No. 1, which replaced and superseded the
proposed rule change in its entirety. On April 2, 2024, the Commission
published notice of Amendment No. 1 to the proposed rule change.\8\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 99082, 88 FR 85962
(Dec. 11, 2023). The Commission designated January 25, 2024, 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. 99428, 89 FR 6155
(Jan. 31, 2024).
\8\ See Securities Exchange Act Release No. 99887, 89 FR 24534
(Apr. 8, 2024).
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Section 19(b)(2) of the Act \9\ 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 October 27,
2023.\10\ The 180th day after publication of the proposed rule change
is April 24, 2024. The Commission is extending the time period for
approving or disapproving the proposed rule change for an additional 60
days.
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\9\ 15 U.S.C. 78s(b)(2).
\10\ 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, as modified by Amendment No. 1, and the issues
raised therein. Accordingly, the Commission, pursuant to section
19(b)(2) of the Act,\11\ designates June 23, 2024, as the date by which
the Commission shall either approve or disapprove the proposed rule
change, as modified by Amendment No. 1 (File No. SR-NYSEArca-2023-70).
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\11\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-09079 Filed 4-26-24; 8:45 am]
BILLING CODE 8011-01-P
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