Notice2025-07691
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt New NYSE Arca Rule 8.800-E To Provide for the Listing and Trading of Commodity- and/or Digital Asset-Based Investment Interests and To List and Trade Shares of the Grayscale Digital Large Cap Fund LLC
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
May 5, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 85 (Monday, May 5, 2025)</title>
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[Federal Register Volume 90, Number 85 (Monday, May 5, 2025)]
[Notices]
[Pages 19037-19038]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-07691]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102941; File No. SR-NYSEARCA-2024-87]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of
Designation of Longer Period for Commission Action on Proceedings To
Determine Whether To Approve or Disapprove a Proposed Rule Change To
Adopt New NYSE Arca Rule 8.800-E To Provide for the Listing and Trading
of Commodity- and/or Digital Asset-Based Investment Interests and To
List and Trade Shares of the Grayscale Digital Large Cap Fund LLC
April 29, 2025.
On October 15, 2024, NYSE Arca, Inc. 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 adopt new NYSE Arca Rule
8.800-E to provide for the listing and trading of Commodity- and
Digital Asset-Based Investment Interests and to list and trade shares
of the Grayscale Digital Large Cap Fund LLC under proposed NYSE Arca
Rule 8.800-E. The proposed rule change was published for comment in the
Federal Register on November 4, 2024.\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. 101470 (Oct. 29,
2024), 89 FR 87681. Comments on the proposed rule change are
available at: <a href="https://www.sec.gov/comments/sr-nysearca-2024-87/srnysearca202487.htm">https://www.sec.gov/comments/sr-nysearca-2024-87/srnysearca202487.htm</a>.
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On December 17, 2024, pursuant to Section 19(b)(2) of the Exchange
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\
[[Page 19038]]
On January 31, 2025, the Commission initiated proceedings under Section
19(b)(2)(B) of the Act \6\ to determine whether to approve or
disapprove the proposed rule change.\7\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 101939, 89 FR 104581
(Dec. 23, 2024) (designating February 2, 2025, as the date by which
the Commission shall either approve, 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. 102313, 90 FR 9092
(Feb. 6, 2025).
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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 November 4,
2024.\9\ The 180th day after publication of the proposed rule change is
May 3, 2025. 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 it 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 therein. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act,\10\ designates July 2, 2025,
as the date by which the Commission shall either approve or disapprove
the proposed rule change (File No. SR-NYSEARCA-2024-87).
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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. 2025-07691 Filed 5-2-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on May 5, 2025.
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