Notice2025-19061
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Listing and Trading of Shares of the 7RCC Spot Bitcoin and Carbon Credit Futures ETF
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 30, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 187 (Tuesday, September 30, 2025)</title>
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[Federal Register Volume 90, Number 187 (Tuesday, September 30, 2025)]
[Notices]
[Pages 46948-46950]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-19061]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-104101; File No. SR-NYSEARCA-2025-73]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Relating to the
Listing and Trading of Shares of the 7RCC Spot Bitcoin and Carbon
Credit Futures ETF
September 26, 2025.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on September 25, 2025, NYSE Arca, Inc. (``NYSE Arca'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to change the manner in which the shares of
the 7RCC Spot Bitcoin and Carbon Credit Futures ETF (the ``Fund'') are
listed and traded on the Exchange. The proposed rule change is
available on the Exchange's website at <a href="http://www.nyse.com">www.nyse.com</a> and at the
principal office of the Exchange.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries,
[[Page 46949]]
set forth in sections A, B, and C below, of the most significant parts
of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to change the manner in which the shares of
the Fund (``Shares'') are listed and traded on the Exchange. The Shares
were originally approved to list and trade on the Exchange pursuant to
Rule 8.500-E. The Exchange now proposes to list and trade Shares of the
Fund on the Exchange pursuant to Rule 8.201-E (Generic).
The Commission approved the listing and trading of shares of the
Fund (the ``Shares'') on the Exchange under Rule 8.500-E on November
15, 2024.\4\ Rule 8.500-E governs the listing and trading of Trust
Units, which are securities issued by a trust, limited liability
company, or other similar entity that, if applicable, is constituted as
a commodity pool and that holds investments comprising or otherwise
based on any combination of futures contracts, options on futures
contracts, forward contracts, swap contracts, commodities, and/or
securities. Shares of the Fund have not yet listed and traded on the
Exchange.
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\4\ See Securities Exchange Act Release No. 101641 (November 15,
2024), 89 FR 92252 (November 21, 2024) (Notice of Filing of
Amendment No. 4 and Order Granting Accelerated Approval of a
Proposed Rule Change, as Modified by Amendment No. 4, To List and
Trade Shares of the 7RCC Spot Bitcoin and Carbon Credit Futures ETF
Under NYSE Arca Rule 8.500-E (Trust Units)) (the ``Original Approval
Order'').
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On September 17, 2025, the Commission approved a proposed rule
change to adopt Rule 8.201-E (Generic).\5\ Rule 8.201-E (Generic)
provides for the generic listing and trading of Commodity-Based Trust
Shares,\6\ which are permitted to be listed and traded on the Exchange
without prior Commission approval order or notice of effectiveness
pursuant to Section 19(b) of the Act.
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\5\ See Securities Exchange Act Release No. 103995 (September
17, 2025) (SR-NASDAQ-2025-056; SR-CboeBZX-2025-104; SR-NYSEARCA-
2025-54) (Order Granting Accelerated Approval of Proposed Rule
Changes, as Modified by Amendments Thereto, to Adopt Generic Listing
Standards for Commodity-Based Trust Shares).
\6\ Commodity-Based Trust Shares are securities issued by a
trust, limited liability company, partnership, or other similar
entity (``Trust'') that represents investors' discrete identifiable
and undivided beneficial ownership interest in the assets deposited
into the Trust.
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The Exchange proposes to now list and trade the Shares of the Fund
pursuant to the generic listing standards set forth in Rule 8.201-E
(Generic), which would permit the Fund to operate in reliance on the
generic listing standards in Rule 8.201-E (Generic) instead of the
terms of the Original Approval Order. The Exchange represents that the
Shares will meet the requirements of Rule 8.201-E (Generic) on an
initial and continued listing basis. In addition, the Exchange will
comply with the requirements of Rule 19b-4(e) to list and trade Shares
of the Fund on the Exchange.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Act and the rules and regulations thereunder applicable to the
Exchange and, in particular, the requirements of Section 6(b) \7\ of
the Act. Specifically, the Exchange believes the proposed rule change
is consistent with the Section 6(b)(5) \8\ requirements that the rules
of an exchange be designed to prevent fraudulent and manipulative acts
and practices, to promote just and equitable principles of trade, to
foster cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general, to protect investors and the public interest.
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\7\ 15 U.S.C. 78f(b)(5).
\8\ 15 U.S.C. 78f(b)(5).
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The Exchange believes the proposed rule change is designed to
remove impediments to and perfect the mechanism of a free and open
market and, in general, to protect investors and the public interest
because it would allow the Fund to be listed and traded under Rule
8.201-E (Generic) instead of Rule 8.500-E. The proposed change would
permit the Fund to operate in reliance on the generic listing standards
in Rule 8.201-E (Generic) instead of the terms of the Original Approval
Order, thereby facilitating the listing and trading of an exchange-
traded product that will enhance competition among market participants,
to the benefit of investors and the marketplace. The Exchange
represents that the Shares will meet the requirements of Rule 8.201-E
(Generic) on an initial and continued listing basis.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purpose of the Act. As discussed above, the
proposed change is intended to facilitate the initial and continued
listing and trading of the Shares on the Exchange, thereby promoting
competition among exchange-traded products to the benefit of investors
and the marketplace.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not:
(i) significantly affect the protection of investors or the public
interest;
(ii) impose any significant burden on competition; and
(iii) become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, it has
become effective pursuant to Section 19(b)(3)(A) of the Act \9\ and
Rule 19b-4(f)(6) thereunder.\10\
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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
<bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#c7b5b2aba2eaa4a8aaaaa2a9b3b487b4a2a4e9a0a8b1"><span class="__cf_email__" data-cfemail="4735322b226a24282a2a222933340734222469202831">[email protected]</span></a>. Please include
file number SR-NYSEARCA-2025-73 on the subject line.
Paper Comments
<bullet> Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.
All submissions should refer to file number SR-NYSEARCA-2025-73. This
[[Page 46950]]
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>). Copies of the filing will be available for inspection and
copying at the principal office of the Exchange. Do not include
personal identifiable information in submissions; you should submit
only information that you wish to make available publicly. We may
redact in part or withhold entirely from publication submitted material
that is obscene or subject to copyright protection. All submissions
should refer to file number SR-NYSEARCA-2025-73 and should be submitted
on or before October 21, 2025.
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)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-19061 Filed 9-29-25; 8:45 am]
BILLING CODE 8011-01-P
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