Notice2025-16819
Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 2, To Add P.M.-Settled Options on the Cboe Bitcoin U.S. ETF Index and the Mini-Cboe Bitcoin U.S. ETF Index With Third Friday Expirations, Nonstandard Expirations, and Quarterly Index Expirations
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
September 3, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 168 (Wednesday, September 3, 2025)</title>
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[Federal Register Volume 90, Number 168 (Wednesday, September 3, 2025)]
[Notices]
[Pages 42645-42646]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-16819]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-103804; File No. SR-CBOE-2025-004]
Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Designation of a Longer Period for Commission Action on Proceedings To
Determine Whether To Approve or Disapprove a Proposed Rule Change, as
Modified by Amendment No. 2, To Add P.M.-Settled Options on the Cboe
Bitcoin U.S. ETF Index and the Mini-Cboe Bitcoin U.S. ETF Index With
Third Friday Expirations, Nonstandard Expirations, and Quarterly Index
Expirations
August 28, 2025.
On February 14, 2025, Cboe Exchange, Inc. (``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 list P.M.-
settled options on the Cboe Bitcoin U.S. ETF Index and the Mini-Cboe
Bitcoin U.S. ETF Index with third Friday expirations, nonstandard
expirations, and quarterly index expirations. The proposed rule change
was published for comment in the Federal Register on March 5, 2025.\3\
On
[[Page 42646]]
April 16, 2025, 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.\4\ On April 22, 2025, the Exchange filed
Amendment No. 1 to the proposed rule change.\5\ Amendment No. 1
superseded the original proposed rule change in its entirety. On June
2, 2025, the Commission published for comment the proposed rule change,
as modified by Amendment No. 1, and instituted proceedings under
Section 19(b)(2)(B) of the Act \6\ to determine whether to approve or
disapprove the proposed rule change, as modified by Amendment No. 1.\7\
On July 23, 2025, the Exchange filed Amendment No. 2 to the proposed
rule change, which superseded the proposed rule change, as modified by
Amendment No. 1, in its entirety.\8\ The Commission has not received
any comments 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. 102502 (Feb. 27,
2025), 90 FR 11343 (``Notice'').
\4\ See Securities Exchange Act Release No. 102870, 90 FR 16894
(Apr. 22, 2025).
\5\ The full text of Amendment No. 1 is available on the
Commission's website at <a href="https://www.sec.gov/comments/sr-cboe-2025-004/srcboe2025004-593235-1720602.pdf">https://www.sec.gov/comments/sr-cboe-2025-004/srcboe2025004-593235-1720602.pdf</a>.
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 103168, 90 FR 24180
(June 6, 2025).
\8\ Amendment No. 2 is available on the Commission's website at:
<a href="https://www.sec.gov/comments/sr-cboe-2025-004/srcboe2025004-631167-1867334.pdf">https://www.sec.gov/comments/sr-cboe-2025-004/srcboe2025004-631167-1867334.pdf</a>.
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Section 19(b)(2) of the Act \9\ 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 the 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 notice and comment in the
Federal Register on March 5, 2025.\10\ The 180th day after publication
of the Notice is September 1, 2025. The Commission is extending the
time period for approving or disapproving the proposed rule change, as
modified by Amendment No. 2, for an additional 60 days.
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\9\ 15 U.S.C. 78s(b)(2).
\10\ See Notice, supra note 3.
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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, as modified by Amendment No. 2. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates
October 31, 2025, as the date by which the Commission shall either
approve or disapprove the proposed rule change, as modified by
Amendment No. 2 (File No. SR-CBOE-2025-004).
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\11\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(57).
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Vanessa A. Countryman,
Secretary.
[FR Doc. 2025-16819 Filed 9-2-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 3, 2025.
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