Notice2025-17718
Self-Regulatory Organizations; Cboe BZX 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 To Amend the Rules Governing the Listing and Trading of Shares of the Fidelity Ethereum Fund To Permit Staking Under Rule 14.11(e)(4) (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
September 15, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 176 (Monday, September 15, 2025)</title>
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[Federal Register Volume 90, Number 176 (Monday, September 15, 2025)]
[Notices]
[Pages 44404-44405]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-17718]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-103927; File No. SR-CboeBZX-2025-038]
Self-Regulatory Organizations; Cboe BZX 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 To
Amend the Rules Governing the Listing and Trading of Shares of the
Fidelity Ethereum Fund To Permit Staking Under Rule 14.11(e)(4)
(Commodity-Based Trust Shares)
September 10, 2025.
On March 11, 2025, Cboe BZX Exchange, Inc. (``BZX'') filed with the
Securities and Exchange Commission (``Commission''), pursuant to
Section
[[Page 44405]]
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 Fidelity Ethereum
Fund under BZX Rule 14.11(e)(4). The proposed rule change was published
for comment in the Federal Register on March 18, 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. 102643 (Mar. 12,
2025), 90 FR 12626. The Commission has received no comment letters
on the proposed rule change.
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On April 29, 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 June 16, 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. 102946, 90 FR 19012
(May 5, 2025). The Commission designated June 16, 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. 103256, 90 FR 26363
(June 20, 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 March 18,
2025.\9\ The 180th day after publication of the proposed rule change is
September 14, 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
November 13, 2025, as the date by which the Commission shall either
approve or disapprove the proposed rule change (File No. SR-CboeBZX-
2025-038).
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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. 2025-17718 Filed 9-12-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 15, 2025.
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