Notice2025-07693
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the Grayscale Hedera Trust (HBAR) Under Nasdaq Rule 5711(d) (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
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]
[Page 19037]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-07693]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102943; File No. SR-NASDAQ-2025-021]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on a
Proposed Rule Change To List and Trade Shares of the Grayscale Hedera
Trust (HBAR) Under Nasdaq Rule 5711(d) (Commodity-Based Trust Shares)
April 29, 2025.
On February 28, 2025, The Nasdaq Stock Market LLC (``Exchange'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934
(``Act'') \2\ and Rule 19b-4 thereunder,\3\ a proposed rule change to
list and trade shares of the Grayscale Hedera Trust (HBAR) under Nasdaq
Rule 5711(d). The proposed rule change was published for comment in the
Federal Register on March 17, 2025.\4\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
\4\ See Securities Exchange Act Release No. 102569 (Mar. 11,
2025), 90 FR 12395. Comments received on the proposed rule change
are available at: <a href="https://www.sec.gov/comments/sr-nasdaq-2025-021/srnasdaq2025021.htm">https://www.sec.gov/comments/sr-nasdaq-2025-021/srnasdaq2025021.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 May 1, 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 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 June 15, 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 (File No. SR-NASDAQ-2025-021).
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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. 2025-07693 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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