[Federal Register Volume 90, Number 145 (Thursday, July 31, 2025)]
[Notices]
[Page 36086]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-14445]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-103553; File No. SR-NYSEARCA-2025-06]


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, as 
Modified by Amendment No. 1, To List and Trade Shares of the Grayscale 
Solana Trust Under NYSE Arca Rule 8.201-E, Commodity-Based Trust Shares

July 28, 2025.
    On January 24, 2025, 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 Grayscale Solana Trust under NYSE Arca Rule 8.201-E, 
Commodity-Based Trust Shares. On February 4, 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superseded the original filing in its entirety.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 February 12, 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. 102372 (Feb. 6, 
2025), 90 FR 9470. Comments received on the proposed rule change are 
available at: https://www.sec.gov/comments/sr-nysearca-2025-06/srnysearca202506.htm.
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    On March 11, 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 May 13, 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, as modified 
by Amendment No. 1.\7\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 102593, 90 FR 12410 
(Mar. 17, 2025). The Commission designated May 13, 2025, as the date 
by which the Commission shall approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change, as modified by Amendment No. 1.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 103030, 90 FR 21363 
(May 19, 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 February 
12, 2025.\9\ The 180th day after publication of the proposed rule 
change is August 11, 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 October 10, 
2025, as the date by which the Commission shall either approve or 
disapprove the proposed rule change, as modified by Amendment No. 1 
(File No. SR-NYSEARCA-2025-06).
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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. 2025-14445 Filed 7-30-25; 8:45 am]
BILLING CODE 8011-01-P