[Federal Register Volume 90, Number 50 (Monday, March 17, 2025)]
[Notices]
[Page 12422]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-04232]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102604; File No. SR-NASDAQ-2025-012]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To List and Trade Shares of the CoinShares XRP ETF 
Under Nasdaq Rule 5711(d)

March 11, 2025.
    On February 7, 2025, the Nasdaq Stock Market LLC (``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 and trade shares of the CoinShares XRP ETF under Nasdaq Rule 
5711(d). The proposed rule change was published for comment in the 
Federal Register on February 25, 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. 102443 (Feb. 19, 
2025), 90 FR 10667. Comments received on the proposed rule change 
are available at: https://www.sec.gov/comments/sr-nasdaq-2025-012/srnasdaq2025012.htm.
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is April 11, 2025. The Commission is extending this 45-day time period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on 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,\5\ designates May 26, 2025, as the date by which 
the Commission shall either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change (File No. SR-NASDAQ-2025-012).
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2025-04232 Filed 3-14-25; 8:45 am]
BILLING CODE 8011-01-P