[Federal Register Volume 83, Number 128 (Tuesday, July 3, 2018)]
[Notices]
[Page 31246]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-14302]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83548; File No. SR-CboeBZX-2018-001]


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 the Shares of the GraniteShares Bitcoin ETF and the 
GraniteShares Short Bitcoin ETF Under BZX Rule 14.11(f)(4), Trust 
Issued Receipts

June 28, 2018.
    On January 5, 2018, 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 
the shares of the GraniteShares Bitcoin ETF and the GraniteShares Short 
Bitcoin ETF under BZX Rule 14.11(f)(4). The proposed rule change was 
published for comment in the Federal Register on January 18, 2018.\3\ 
On February 22, 2018, 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 April 5, 2018, the Commission instituted proceedings 
under
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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. 82484 (Jan. 11, 
2018), 83 FR 2704 (Jan. 18, 2018).
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 82759 (Feb. 22, 
2018), 83 FR 8719 (Feb. 28, 2018).
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    Section 19(b)(2)(B) of the Act \6\ to determine whether to approve 
or disapprove the proposed rule change.\7\ The Commission has received 
eight comments on the proposed rule change.\8\
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    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 82995 (Apr. 5, 
2018), 83 FR 15425 (Apr. 10, 2018). Specifically, the Commission 
instituted proceedings to allow for additional analysis of the 
proposed rule change's consistency with Section 6(b)(5) of the Act, 
which requires, among other things, that the rules of a national 
securities exchange be ``designed to prevent fraudulent and 
manipulative acts and practices, to promote just and equitable 
principles of trade,'' and ``to protect investors and the public 
interest.'' See id. at 15426 (citing 15 U.S.C. 78f(b)(5)).
    \8\ See Letters from Anita Desai (Apr. 6, 2018); Ed Kaleda (Apr. 
6, 2018); Don Krohn (Apr. 7, 2018); Adam Malkin (Apr. 8, 2018); 
Shravan Kumar (Apr. 11, 2018); David Barnwell (Apr. 12, 2018); 
Louise Fitzgerald (Apr. 18, 2018); and Sharon Brown-Hruska, Managing 
Director, and Trevor Wagener, Consultant, NERA Economic Consulting 
(May 18, 2018). All comments on the proposed rule change are 
available on the Commission's website at: https://www.sec.gov/comments/sr-cboebzx-2018-001/cboebzx2018001.htm.
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    Section 19(b)(2) of the Act \9\ provides that, after initiating 
disapproval 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 notice and comment in the 
Federal Register on January 18, 2018. July 17, 2018, is 180 days from 
that date, and September 15, 2018, is 240 days from that date.
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    \9\ 15 U.S.C. 78s(b)(2).
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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 this proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\10\ designates September 15, 2018, as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-CboeBZX-2018-001).
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    \10\ Id.

    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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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-14302 Filed 7-2-18; 8:45 am]
 BILLING CODE 8011-01-P


