[Federal Register Volume 84, Number 159 (Friday, August 16, 2019)]
[Notices]
[Page 42036]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-17590]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86629; File No. SR-NYSEArca-2019-01]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 1, Relating to the Listing and Trading of 
Shares of the Bitwise Bitcoin ETF Trust Under NYSE Arca Rule 8.201-E

August 12, 2019.
    On January 28, 2019, NYSE Arca, Inc. (``NYSE Arca'' or 
``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 Bitwise Bitcoin 
ETF Trust under NYSE Arca Rule 8.201-E. The proposed rule change was 
published for comment in the Federal Register on February 15, 2019.\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. 85093 (Feb. 11, 
2019), 84 FR 4589 (Feb. 15, 2019).
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    On March 29, 2019, 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 May 7, 2019, the Exchange filed Amendment No. 1 to the 
proposed rule change, which replaced and superseded the proposed rule 
change as originally filed.\6\ On May 14, 2019, the Commission 
published Amendment No. 1 for notice and comment and instituted 
proceedings under Section 19(b)(2)(B) of the Act \7\ to determine 
whether to approve or disapprove the proposed rule change, as modified 
by Amendment No. 1.\8\ As of August 12, 2019, the Commission has 
received 50 comment letters on the proposed rule change.\9\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 85461 (Mar. 29, 
2019), 84 FR 13339 (Apr. 4, 2019).
    \6\ Amendment No. 1 is available at: https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5461982-184967.pdf.
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 85854 (May 14, 
2019), 84 FR 23125 (May 21, 2019). 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 23137 (citing 15 U.S.C. 78f(b)(5)).
    \9\ Comments on the proposed rule change can be found at: 
https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901.htm.
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    Section 19(b)(2) of the Act \10\ 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 date 
of publication of notice of filing of the proposed rule change was 
February 15, 2019. August 14, 2019, is 180 days from that date, and 
October 13, 2019, is 240 days from that date.
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    \10\ 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,\11\ designates October 13, 2019, as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-NYSEArca-2019-01).
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    \11\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(57).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-17590 Filed 8-15-19; 8:45 am]
 BILLING CODE 8011-01-P


