Notice2025-14447
Self-Regulatory Organizations; Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade Shares of the Canary Litecoin ETF 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
July 31, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 145 (Thursday, July 31, 2025)</title>
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[Federal Register Volume 90, Number 145 (Thursday, July 31, 2025)]
[Notices]
[Pages 36079-36080]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-14447]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-103555; File No. SR-NASDAQ-2025-005]
Self-Regulatory Organizations; Nasdaq Stock Market LLC; Notice of
Designation of a Longer Period for Commission Action on Proceedings To
Determine Whether To Approve or Disapprove a Proposed Rule Change To
List and Trade Shares of the Canary Litecoin ETF Under Nasdaq Rule
5711(d) (Commodity-Based Trust Shares)
July 28, 2025.
On January 15, 2025, The Nasdaq Stock Market LLC (``Nasdaq'') 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 Canary Litecoin ETF under Nasdaq Rule 5711(d). The
proposed rule change was published for comment in the Federal Register
on February 4, 2025.\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. 102303 (Jan. 29,
2025), 90 FR 8949. Comments received on the proposed rule change are
available at: <a href="https://www.sec.gov/comments/sr-nasdaq-2025-005/srnasdaq2025005.htm">https://www.sec.gov/comments/sr-nasdaq-2025-005/srnasdaq2025005.htm</a>.
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On March 11, 2025, 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 May 5, 2025, 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\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 102585, 90 FR 12384
(Mar. 17, 2025). The Commission designated May 5, 2025, 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. 102988, 90 FR 19772
(May 9, 2025).
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[[Page 36080]]
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 February 4,
2025.\9\ The 180th day after publication of the proposed rule change is
August 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 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, and the issues raised therein. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\10\ designates
October 2, 2025, as the date by which the Commission shall either
approve or disapprove the proposed rule change (File No. SR-NASDAQ-
2025-005).
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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. 2025-14447 Filed 7-30-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on July 31, 2025.
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