Notice2025-04243
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, To Amend the Rules Governing the Listing and Trading of Shares of the iShares Bitcoin Trust To Permit In-Kind Creations and Redemptions
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]
[Pages 12421-12422]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-04243]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102602; File No. SR-NASDAQ-2025-008]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on a
Proposed Rule Change, as Modified by Amendment No. 1, To Amend the
Rules Governing the Listing and Trading of Shares of the iShares
Bitcoin Trust To Permit In-Kind Creations and Redemptions
March 11, 2025.
On January 24, 2025, The Nasdaq Stock Market LLC (``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
amend the rules governing the listing and trading of shares of the
iShares Bitcoin Trust to permit in-kind creations and redemptions. On
February 4, 2025, the Exchange filed Amendment No. 1 to the proposed
rule change,
[[Page 12422]]
which replaced and superseded the original filing in its entirety. The
proposed rule change, as modified by Amendment No. 1, was published for
comment in the Federal Register on February 12, 2025.\3\ No comments
have been received on the proposed rule change.
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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. 102366 (Feb. 6,
2025), 90 FR 9446.
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Section 19(b)(2) of the Act \4\ 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 March 29, 2025. The Commission is extending this 45-day time period.
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\4\ 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. 1, 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,\5\ designates May
13, 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. 1
(File No. SR-NASDAQ-2025-008).
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\5\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2025-04243 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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