Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To List Shares of the Bitwise 10 Crypto Index ETF Under NYSE Arca Rule 8.201-E (Generic)

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<title>Federal Register, Volume 91 Issue 211 (Tuesday, November 3, 2026)</title>
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[Federal Register Volume 91, Number 211 (Tuesday, November 3, 2026)]
[Notices]
[Pages 69283-69284]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-22374]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-106772; File No. SR-NYSEARCA-2026-106]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To List Shares of 
the Bitwise 10 Crypto Index ETF Under NYSE Arca Rule 8.201-E (Generic)

October 29, 2026.
    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 October 21, 2026, NYSE Arca, Inc. (``NYSE Arca'' or the 
``Exchange'') filed with the Securities and Exchange Commission (the 
``Commission'') the proposed rule change as described in Items I, II, 
and III 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 Bitwise 10 Crypto Index 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, 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 July 22, 
2025.\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.
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    \4\ See Securities Exchange Act Release No. 103531 (July 22, 
2025), 90 FR 35339 (July 25, 2025) (Order Granting Accelerated 
Approval of a Proposed Rule Change, as Modified by Amendment No. 1 
Thereto, To Amend NYSE Arca Rule 8.500-E (Trust Units) and To List 
and Trade Shares of the Bitwise 10 Crypto Index ETF Under Amended 
NYSE Arca Rule 8.500-E (Trust Units)) (the ``Original Approval 
Order'').
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    On July 28, 2026, the Commission approved a proposed rule change to 
amend Rule 8.201-E (Generic).\5\ Rule 8.201-E (Generic), as amended, 
allows for up to 15% of a trust's net asset value (NAV) to consist of 
digital commodities or securities that do not independently meet the 
core generic eligibility criteria; adds ``digital commodity'' \6\ as a 
defined term; and allows for actively managed Commodity-Based Trust 
Shares.\7\
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    \5\ See Securities Exchange Act Release No. 106001 (July 28, 
2026), 91 FR 48462 (July 31, 2026) (SR-NYSEARCA-2026-42) (Notice of 
Filing of Amendment No. 1 and Order Granting Accelerated Approval of 
a Proposed Rule Change, as Modified by Amendment No. 1, to Amend 
NYSE Arca Rule 8.201-E (Generic) Commodity-Based Trust Shares).
    \6\ Under Rule 8.201-E(c)(4), the term ``digital commodity'' 
means a commodity that is a digital asset and is intrinsically 
linked to and derives its value from the programmatic operation of a 
functional crypto system, as well as supply and demand dynamics, 
rather than from the expectations of profits from the essential 
managerial efforts of others.
    \7\ Commodity-Based Trust Shares are securities issued by a 
trust, limited liability company, partnership, or other similar 
entity (``Trust'') that, if applicable, is operated by a registered 
commodity pool operator, and is not registered as an investment 
company; that, consistent with the Trust's investment objective and 
policies, holds (A) one or more commodities or commodity-based 
assets, and (B) in addition to such commodities or commodity-based 
assets, may hold securities, cash, and cash equivalents; is issued 
by a Trust in a specified aggregate minimum number in return for a 
deposit of (A) a specified quantity of the underlying commodities, 
commodity-based assets, securities, cash, and cash equivalents or 
(B) a cash amount with a value based on the next determined NAV per 
Trust share; and when aggregated in the same specified minimum 
number, may be redeemed at a holder's request by a Trust which will 
deliver to the redeeming holder (A) the specified quantity of the 
underlying commodities, commodity-based assets, securities, cash, 
and cash equivalents or (B) a cash amount with a value based on the 
next determined NAV per Trust share.
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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), as amended, which would permit the Fund to operate in 
reliance on the generic listing standards in Rule 8.201-E (Generic), as 
amended, 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), as amended, 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) \8\ of 
the Act. Specifically, the Exchange believes the proposed rule change 
is consistent with the Section 6(b)(5) \9\ 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

[[Page 69284]]

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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    \8\ 15 U.S.C. 78f(b)(5).
    \9\ 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), as amended, 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), as amended, 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), as amended, 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

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \10\ and Rule 19b-4(f)(6) thereunder.\11\ 
Because the 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 prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate, if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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    \10\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \11\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\13\ the Commission 
may designate a shorter time if such action is consistent with the 
protection of investors and the public interest.
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    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ 17 CFR 240.19b-4(f)(6)(iii).
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    At any time within 60 days of the filing of such 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. If the Commission 
takes such action, the Commission shall institute proceedings under 
Section 19(b)(2)(B) \14\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \14\ 15 U.S.C. 78s(b)(2)(B).
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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#ff8d8a939ad29c9092929a918b8cbf8c9a9cd1989089"><span class="__cf_email__" data-cfemail="5a282f363f77393537373f342e291a293f39743d352c">[email&#160;protected]</span></a>. Please include 
file number SR-NYSEARCA-2026-106 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-2026-106. This 
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-2026-106 and should be 
submitted on or before November 24, 2026.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
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    \15\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-22374 Filed 11-2-26; 8:45 am]
BILLING CODE 8011-01-P


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