[Federal Register Volume 90, Number 105 (Tuesday, June 3, 2025)]
[Notices]
[Page 23574]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-09972]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-103140; File No. SR-NYSEARCA-2024-98]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of 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 Bitwise 10 Crypto Index Fund Under 
Proposed NYSE Arca Rule 8.800-E (Commodity- and/or Digital Asset-Based 
Investment Interests)

May 28, 2025.
    On November 14, 2024, NYSE Arca, Inc. (``NYSE Arca'') 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 Bitwise 10 Crypto Index Fund under proposed NYSE Arca 
Rule 8.800-E. The proposed rule change was published for comment in the 
Federal Register on December 3, 2024.\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. 101775 (Nov. 27, 
2024), 89 FR 95853. Comments on the proposed rule change are 
available at: https://www.sec.gov/comments/sr-nysearca-2024-98/srnysearca202498.htm.
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    On January 14, 2025, pursuant to Section 19(b)(2) of the Exchange 
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 3, 2025, the Commission initiated 
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. 102186, 90 FR 7199 
(Jan. 21, 2025) (designating Mar. 3, 2025, as the date by which the 
Commission shall either approve, 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. 102514, 90 FR 11559 
(Mar. 7, 2025).
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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 3, 
2024.\9\ The 180th day after publication of the proposed rule change is 
June 1, 2025. 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 it 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 July 31, 2025, 
as the date by which the Commission shall either approve or disapprove 
the proposed rule change (File No. SR-NYSEARCA-2024-98).
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    \10\ 15 U.S.C. 78s(b)(2).

    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. 2025-09972 Filed 6-2-25; 8:45 am]
BILLING CODE 8011-01-P