[Federal Register Volume 89, Number 114 (Wednesday, June 12, 2024)]
[Notices]
[Pages 49926-49927]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-12792]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-100289; File No. SR-CboeBZX-2023-101]


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 
List and Trade Shares of the Pando Asset Spot Bitcoin Trust Under BZX 
Rule 14.11(e)(4), Commodity-Based Trust Shares

June 6, 2024.
    On December 5, 2023, Cboe BZX Exchange, Inc. (``BZX'') 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 Pando Asset Spot Bitcoin Trust under BZX Rule 
14.11(e)(4), Commodity-Based Trust Shares. The proposed rule change was 
published for comment in the Federal Register on December 22, 2023.\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. 99197 (Dec. 18, 
2023), 88 FR 88668. Comments on the proposed rule change are 
available at https://www.sec.gov/comments/sr-cboebzx-2023-101/srcboebzx2023101.htm.
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    On February 1, 2024, 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 March 21, 2024, 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. 99460, 89 FR 8472 
(Feb. 7, 2024). The Commission designated March 21, 2024, 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. 99833, 89 FR 21310 
(Mar. 27, 2024).
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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 December 
22, 2023.\9\ The 180th day after publication of the proposed rule 
change is June 19, 2024. 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 
August 18, 2024, as the date by which the Commission shall either 
approve or disapprove the proposed rule change (File No. SR-CboeBZX-
2023-101).
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    \10\ 15 U.S.C. 78s(b)(2).


[[Page 49927]]


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    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. 2024-12792 Filed 6-11-24; 8:45 am]
BILLING CODE 8011-01-P