[Federal Register Volume 90, Number 96 (Tuesday, May 20, 2025)]
[Notices]
[Pages 21528-21529]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-08921]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-103045; File No. SR-CboeBZX-2025-045]


Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change, as Modified by Amendment No. 1, To List and Trade Shares of the 
Osprey Bitcoin Trust Under BZX Rule 14.11(e)(4), Commodity-Based Trust 
Shares

May 14, 2025.
    On March 14, 2025, Cboe BZX Exchange, Inc. (``BZX'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (``Act'') 
\2\ and Rule 19b-4 thereunder,\3\ a proposed rule change to list and 
trade shares of the Osprey Bitcoin Trust under BZX Rule 14.11(e)(4), 
Commodity-Based Trust Shares. On March 25, 2025, the Exchange filed 
Amendment No. 1 to the proposed rule change, which replaced and 
superseded the original filing in its entirety. The proposed rule 
change, as modified by Amendment No. 1, was published for comment in 
the Federal Register on April 2, 2025.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ See Securities Exchange Act Release No. 102736 (Mar. 27, 
2025), 90 FR 14493. The Commission has received no comments on the 
proposed rule change.
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    Section 19(b)(2) of the Act \5\ 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 May 17, 2025.

[[Page 21529]]

The Commission is extending this 45-day time period.
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    \5\ 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, as modified by 
Amendment No. 1, and the issues raised therein. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\6\ designates July 
1, 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, as modified by Amendment No. 1 
(File No. SR-CboeBZX-2025-045).
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-08921 Filed 5-19-25; 8:45 am]
BILLING CODE 8011-01-P