Notice2025-04186
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 2, To List and Trade Shares of the Grayscale Cardano Trust (ADA) 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
March 17, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 50 (Monday, March 17, 2025)</title>
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[Federal Register Volume 90, Number 50 (Monday, March 17, 2025)]
[Notices]
[Page 12387]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-04186]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102591; File No. SR-NYSEARCA-2025-12]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Designation of a Longer Period for Commission Action on a Proposed Rule
Change, as Modified by Amendment No. 2, To List and Trade Shares of the
Grayscale Cardano Trust (ADA) Under NYSE Arca Rule 8.201-E (Commodity-
Based Trust Shares)
March 11, 2025.
On February 10, 2025, NYSE Arca, Inc. (``NYSE Arca'') 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 Grayscale Cardano Trust (ADA) under NYSE Arca Rule 8.201-
E (Commodity-Based Trust Shares). On February 20, 2025, the Exchange
filed Amendment No. 2 to the proposed rule change, which replaced and
superseded the proposed rule change in its entirety.\3\ The proposed
rule change, as modified by Amendment No. 2, was published for comment
in the Federal Register on February 28, 2025.\4\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ On February 19, 2025, the Exchange filed Amendment No. 1 to
the proposed rule change and on February 20, 2025, the Exchange
withdrew Amendment No. 1.
\4\ See Securities Exchange Act Release No. 102475 (Feb. 24,
2025), 90 FR 10964. Comments received on the proposed rule change
are available at: <a href="https://www.sec.gov/comments/sr-nysearca-2025-12/srnysearca202512.htm">https://www.sec.gov/comments/sr-nysearca-2025-12/srnysearca202512.htm</a>.
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Section 19(b)(2) of the Act \5\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day after publication of the notice for this proposed rule change
is April 14, 2025. The Commission is extending this 45-day time period.
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\5\ 15 U.S.C. 78s(b)(2).
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The Commission finds it appropriate to designate a longer period
within which to take action on the proposed rule change, as modified by
Amendment No. 2, so that it has sufficient time to consider the
proposed rule change and the issues raised therein. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\6\ designates May
29, 2025, as the date by which the Commission shall either approve or
disapprove, or institute proceedings to determine whether to
disapprove, the proposed rule change, as modified by Amendment No. 2
(File No. SR-NYSEARCA-2025-12).
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\6\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-04186 Filed 3-14-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on March 17, 2025.
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