Federal Register / Vol. 89, No. 249 / Monday, December 30, 2024 / Notices 106707 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 101218 

(Sept. 30, 2024), 89 FR 80970 (Oct. 4, 2024) (SR– 

NASDAQ–2024–028) (‘‘Hashdex Filing’’). 

4See Amendment No. 1 to Proposed Rule Change 

to List and Trade Shares of the Franklin Crypto 

Index ETF, a Series of the Franklin Crypto Trust, 

under BZX Rule 14.11(e)(4), Commodity-Based 

Trust Shares (SR–CboeBZX–2024–091), filed Dec. 

17, 2024, available at: https://www.sec.gov/ 

comments/sr-cboebzx-2024-091/ 

srcboebzx2024091.htm (‘‘Franklin Filing’’). 

5The Commission did not receive any comments 

on the Franklin Filing. Comments received on the 

Hashdex Filing are available at: https://

www.sec.gov/comments/sr-nasdaq-2024-028/ 

srnasdaq2024028.htm. 

6See supra notes 3–4. 

7Bitcoins are digital assets that are issued and 

transferred via a distributed, open-source protocol 

used by a peer-to-peer computer network through 

which transactions are recorded on a public 

transaction ledger known as the ‘‘Bitcoin 

blockchain.’’ The Bitcoin protocol governs the 

creation of new bitcoins and the cryptographic 

system that secures and verifies bitcoin 

transactions. 

8Ether is a digital asset that is native to, and 

minted and transferred via, a distributed, opensource protocol used by a peer-to-peer computer 

network through which transactions are recorded 

on a public transaction ledger known as 

‘‘Ethereum.’’ The Ethereum protocol governs the 

creation of new ether and the cryptographic system 

that secures and verifies transactions on Ethereum. 

9Each Trust could also hold cash and cash 

equivalents. See Hashdex Filing at 80970; Franklin 

Filing at 8. 

10The Franklin Filing is being approved on an 

accelerated basis. See infra Section III. 

11 In approving the Proposals, the Commission 

has considered the Proposals’ impacts on efficiency, 

competition, and capital formation. See 15 U.S.C. 

78c(f). 

12 15 U.S.C. 78f(b)(5). 

13 15 U.S.C. 78k–1(a)(1)(C)(iii). 

and the annual ongoing recordkeeping 

burden for all 55 respondents will be, 

on average, 1,485 hours. The 

Commission staff estimates that the 7 

new respondents would incur an initial 

internal cost of compliance of $309,868. 

In addition, all 55 respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$711,095. 

Regulation SCI also requires SCI 

entities to identify certain types of 

events and systems. The Commission 

staff estimates that the total annual 

initial recordkeeping burden for 7 new 

respondents will be 1,287 hours, and 

the annual ongoing recordkeeping 

burden for all 55 respondents will be, 

on average, 2,145 hours. The 

Commission staff estimates that the 7 

new respondents would incur an initial 

internal cost of compliance of $507,936. 

In addition, all 55 respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$949,190. 

Rules 1005 and 1007 establish 

recordkeeping requirements for SCI 

entities other than SROs. The 

Commission staff estimates that for 6 

new respondents that are not SROs the 

average annual initial burden would be 

935 hours, and the annual ongoing 

burden for all 19 respondents will be, 

on average, 475 hours. The Commission 

staff estimates that 6 new respondents 

would incur an estimated internal 

initial internal cost of compliance of 

$72,930, as well as a one-time cost of 

$5,400 to modify existing recordkeeping 

systems. In addition, all 19 respondents 

will incur, on average, an estimated 

ongoing internal cost of compliance of 

$37,050. 

The Commission estimates that the 

increase in the number of SCI entities 

raises the total industry annual burden 

hours to 150,619 hours and cost to 

$3,848,749 respectively. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view and comment 

on this information collection request 

at: https://www.reginfo.gov/public/do/ 

PRAViewICR?ref_nbr=202410-3235-003 

or send an email comment to 

MBX.OMB.OIRA.SEC_desk_officer@

omb.eop.gov within 30 days of the day 

after publication of this notice by 

January 30, 2025. 

Dated: December 23, 2024. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–31351 Filed 12–27–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101998; File Nos. SR– 

NASDAQ–2024–028; SR–CboeBZX–2024– 

091] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Cboe BZX 

Exchange, Inc.; Order Granting 

Approval of a Proposed Rule Change, 

as Modified by Amendment No. 1, To 

List and Trade Shares of the Hashdex 

Nasdaq Crypto Index US ETF and 

Granting Accelerated Approval of a 

Proposed Rule Change, as Modified by 

Amendment No. 1, To List and Trade 

Shares of the Franklin Crypto Index 

ETF, a Series of the Franklin Crypto 

Trust 

December 19, 2024. 

I. Introduction 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’) 1 and Rule 19b–4 

thereunder,2 each of The Nasdaq Stock 

Market LLC (‘‘Nasdaq’’) and Cboe BZX 

Exchange, Inc. (‘‘BZX’’, and together 

with Nasdaq, the ‘‘Exchanges’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) proposed 

rule changes to list and trade shares of 

the following. Nasdaq proposes to list 

and trade shares of the Hashdex Nasdaq 

Crypto Index US ETF 3 under Nasdaq 

Rule 5711(d) (Commodity-Based Trust 

Shares); and BZX proposes to list and 

trade shares of the Franklin Crypto 

Index ETF, a series of the Franklin 

Crypto Trust,4 under BZX Rule 

14.11(e)(4) (Commodity-Based Trust 

Shares). Each filing was subject to 

notice and comment.5

Each of the foregoing proposed rule 

changes, as modified by their respective 

amendments, is referred to herein as a 

‘‘Proposal’’ and together as the 

‘‘Proposals.’’ Each trust (or series of a 

trust) described in a Proposal is referred 

to herein as a ‘‘Trust’’ and together as 

the ‘‘Trusts.’’ As described in more 

detail in the Proposals’ respective 

amended filings,6 each Proposal seeks to 

list and trade shares of a Trust that 

would hold both spot bitcoin 7 and spot 

ether,8 in whole or in part.9 This order 

approves the Proposals.10

II. Discussion and Commission 

Findings 

After careful review, the Commission 

finds that the Proposals are consistent 

with the Exchange Act and rules and 

regulations thereunder applicable to a 

national securities exchange.11 In 

particular, the Commission finds that 

the Proposals are consistent with 

Section 6(b)(5) of the Exchange Act,12

which requires, among other things, that 

the Exchanges’ rules be designed to 

‘‘prevent fraudulent and manipulative 

acts and practices’’ and, ‘‘in general, to 

protect investors and the public 

interest;’’ and with Section 

11A(a)(1)(C)(iii) of the Exchange Act,13

which sets forth Congress’ finding that 

it is in the public interest and 

appropriate for the protection of 

investors and the maintenance of fair 

and orderly markets to assure the 

availability to brokers, dealers, and 

investors of information with respect to 

quotations for and transactions in 

securities. 

A. Exchange Act Section 6(b)(5) 

The Commission has explained that 

one way an exchange that lists bitcoinbased or ether-based exchange-traded 

products (‘‘ETPs’’) can meet the 

obligation under Exchange Act Section 

6(b)(5) that its rules be designed to 

prevent fraudulent and manipulative 

acts and practices is by demonstrating 

that the exchange has a comprehensive 

surveillance-sharing agreement with a 


ddrumheller on DSK120RN23PROD with NOTICES1
106708 Federal Register / Vol. 89, No. 249 / Monday, December 30, 2024 / Notices 

14See, e.g., Order Granting Accelerated Approval 

of Proposed Rule Changes, as Modified by 

Amendments Thereto, To List and Trade BitcoinBased Commodity-Based Trust Shares and Trust 

Units, Securities Exchange Act Release No. 99306 

(Jan. 10, 2024), 89 FR 3008 (Jan. 17, 2024) (SR– 

NYSEARCA–2021–90; SR–NYSEARCA–2023–44; 

SR–NYSEARCA–2023–58; SR–NASDAQ–2023–016; 

SR–NASDAQ–2023–019; SR–CboeBZX–2023–028; 

SR–CboeBZX–2023–038; SR–CboeBZX–2023–040; 

SR–CboeBZX–2023–042; SR–CboeBZX–2023–044; 

SR–CboeBZX–2023–072) (‘‘Spot Bitcoin ETP 

Approval Order’’); Order Granting Accelerated 

Approval of Proposed Rule Changes, as Modified by 

Amendments Thereto, To List and Trade Shares of 

Ether-Based Exchange-Traded Products, Securities 

Exchange Act Release No. 100224 (May 23, 2024), 

89 FR 46937 (May 30, 2024) (SR–NYSEARCA– 

2023–70; SR–NYSEARCA–2024–31; SR–NASDAQ– 

2023–045; SR–CboeBZX–2023–069; SR–CboeBZX– 

2023–070; SR–CboeBZX–2023–087; SR–CboeBZX– 

2023–095; SR–CboeBZX–2024–018) (‘‘Spot Ether 

ETP Approval Order’’); Order Granting Approval of 

Proposed Rule Changes To List and Trade Shares 

of the Grayscale Ethereum Mini Trust and 

ProShares Ethereum ETF, Securities Exchange Act 

Release No. 100541 (July 17, 2024), 89 FR 59786 

(July 23, 2024) (SR–NYSEARCA–2024–44; SR– 

NYSEARCA–2024–53) (‘‘Second Spot Ether ETP 

Approval Order’’); Order Granting Approval of a 

Proposed Rule Change, as Modified by Amendment 

No. 1, To List and Trade Shares of the Grayscale 

Bitcoin Mini Trust and Granting Accelerated 

Approval of a Proposed Rule Change, as Modified 

by Amendment No. 1, To List and Trade Shares of 

the Pando Asset Spot Bitcoin Trust, Securities 

Exchange Act Release No. 100610 (July 26, 2024), 

89 FR 62821 (Aug. 1, 2024) (SR–NYSEARCA–2024– 

45; SR–CboeBZX–2023–101) (‘‘Second Spot Bitcoin 

ETP Approval Order’’). 

15See, e.g., Order Setting Aside Action by 

Delegated Authority and Disapproving a Proposed 

Rule Change, as Modified by Amendments No. 1 

and 2, To List and Trade Shares of the Winklevoss 

Bitcoin Trust, Securities Exchange Act Release No. 

83723 (July 26, 2018), 83 FR 37579, 37580 (Aug. 1, 

2018) (SR–BatsBZX–2016–30) (‘‘Winklevoss 

Order’’); Spot Bitcoin ETP Approval Order at 3009; 

Spot Ether ETP Approval Order at 46938; Second 

Spot Bitcoin ETP Approval Order at 62822; Second 

Spot Ether ETP Approval Order at 59786. 

16See, e.g., Spot Bitcoin ETP Approval Order at 

3009 (quoting Winklevoss Order at 37580). 

17See id. at 3009–11. See also Second Spot 

Bitcoin ETP Approval Order at 62822. 

18The Commission stated that the ‘‘robustness’’ of 

its correlation analysis rested on the pre-requisites 

of (1) the correlations being calculated with respect 

to bitcoin futures that trade on the CME, a U.S. 

market regulated by the Commodity Futures 

Trading Commission, (2) the lengthy sample period 

of price returns for both the CME bitcoin futures 

market and the spot bitcoin market, (3) the frequent 

intra-day trading data in both the CME bitcoin 

futures market and the spot bitcoin market over that 

lengthy sample period, and (4) the consistency of 

the correlation results throughout the lengthy 

sample period. See Spot Bitcoin ETP Approval 

Order at 3010 n.38. 

19See Spot Ether ETP Approval Order at 46938– 

41. See also Second Spot Ether ETP Approval Order 

at 59786–87. 

20See Hashdex Filing at 80972; Franklin Filing at 

10. 

21The Commission has previously approved the 

listing and trading of commodity-based trust shares 

where the underlying trust held more than one 

commodity. See, e.g., Securities Exchange Act 

Release Nos. 82448 (Jan. 5, 2018) 83 FR 1428 (Jan. 

11, 2018) (SR–NYSEArca–2017–131) (Notice of 

Filing of Amendment No. 2 and Order Approving 

on an Accelerated Basis a Proposed Rule Change, 

as Modified by Amendment No. 2, To List and 

Trade Shares of the Sprott Physical Gold and Silver 

Trust Under NYSE Arca Rule 8.201–E); 62692 (Aug. 

11, 2010), 75 FR 50789 (Aug. 17, 2010) (SR– 

NYSEArca–2010–56) (Order Granting Approval of 

Proposed Rule Change To List and Trade Shares of 

the ETFS Precious Metals Basket Trust). See also 

Franklin Filing at 7 n.16; Letter from Hashdex Asset 

Management, Ltd., dated Oct. 25, 2024, regarding 

SR–NASDAQ–2024–028, at 2–3. 

22See Spot Bitcoin ETP Approval Order; Spot 

Ether ETP Approval Order; Second Spot Bitcoin 

ETP Approval Order; Second Spot Ether ETP 

Approval Order. See also infra Section II.B. 

23The Commission examined correlation between 

the CME bitcoin futures market and the Coinbase 

and Kraken spot bitcoin trading platforms at hourly, 

five-minute, and one-minute intervals, using the 

same data sources and methodology as in the Spot 

Bitcoin ETP Approval Order (see Spot Bitcoin ETP 

Approval Order at 3010 n.35), for the period from 

October 1, 2021, to August 22, 2024. The correlation 

between the CME bitcoin futures market and this 

subset of spot bitcoin platforms for the full sample 

period is no less than 98.9 percent using data at an 

hourly interval, 93.9 percent using data at a fiveminute interval, and 83.1 percent using data at a 

one-minute interval. The rolling three-month 

correlation results range between 94.9 and 99.5 

percent using data at an hourly interval, 83.8 and 

96.1 percent using data at a five-minute interval, 

and 79.0 and 87.3 percent using data at a oneminute interval. 

24The Commission examined correlation between 

the CME ether futures market and the Coinbase and 

Kraken spot ether trading platforms at hourly, fiveminute, and one-minute intervals, using the same 

data sources and methodology as in the Spot Ether 

ETP Approval Order (see Spot Ether ETP Approval 

Order at 46939–40 n.45), for the period from 

October 1, 2021, to August 22, 2024. The correlation 

between the CME ether futures market and this 

subset of spot ether platforms for the full sample 

period is no less than 98.9 percent using data at an 

hourly interval, 92.8 percent using data at a fiveminute interval, and 81.6 percent using data at a 

one-minute interval. The rolling three-month 

correlation results range between 96.0 and 99.5 

percent using data at an hourly interval, 87.9 and 

95.8 percent using data at a five-minute interval, 

and 78.4 and 85.1 percent using data at a oneminute interval. 

25Both Exchanges and the CME are members of 

the Intermarket Surveillance Group. See Hashdex 

Filing at 80979; Franklin Filing at 6. 

regulated market of significant size 

related to the underlying or reference 

assets.14 Such an agreement would 

assist in detecting and deterring fraud 

and manipulation related to that 

underlying asset. 

The Commission has also consistently 

recognized, however, that this is not the 

exclusive means by which an ETP 

listing exchange can meet this statutory 

obligation.15 A listing exchange could, 

alternatively, demonstrate that ‘‘other 

means to prevent fraudulent and 

manipulative acts and practices will be 

sufficient’’ to justify dispensing with a 

surveillance-sharing agreement with a 

regulated market of significant size.16

In the Spot Bitcoin ETP Approval 

Order, the Commission determined that 

having a comprehensive surveillancesharing agreement with a U.S.-regulated 

market that, based on evidence from 

robust correlation analysis, is 

consistently highly correlated with the 

ETPs’ underlying assets (spot bitcoin) 

constituted ‘‘other means’’ sufficient to 

satisfy the Exchange Act Section 6(b)(5) 

standard.17 Specifically, given the 

consistently high correlation between 

the bitcoin futures market of the 

Chicago Mercantile Exchange (‘‘CME’’) 

and a sample of spot bitcoin markets— 

confirmed by the Commission through 

robust 18 correlation analysis using data 

at hourly, five-minute, and one-minute 

intervals—the Commission was able to 

conclude that fraud or manipulation 

that impacts prices in spot bitcoin 

markets would likely similarly impact 

CME bitcoin futures prices. And 

because the CME’s surveillance can 

assist in detecting those impacts on 

CME bitcoin futures prices, the 

Commission was able to conclude that 

the comprehensive surveillance-sharing 

agreement among the listing exchanges 

and the CME can be reasonably 

expected to assist in surveilling for 

fraudulent and manipulative acts and 

practices in the specific context of the 

spot bitcoin ETPs considered in the 

Spot Bitcoin ETP Approval Order. 

The Commission reached similar 

conclusions in the Spot Ether ETP 

Approval Order with respect to the spot 

ether ETPs considered in that order, 

having confirmed the consistently high 

correlation between the CME ether 

futures market and a sample of spot 

ether markets.19

The Trusts in the present Proposals 

will hold both spot bitcoin and spot 

ether, and the proportion of bitcoin and 

ether to be held by each Trust will be 

based on free-float market 

capitalizations, as described by the 

Exchanges in their respective amended 

filings.20 Other than that the Trusts will 

hold both spot bitcoin and spot ether,21

the structure of the Trusts, the terms of 

their operation and the trading of their 

shares, and the representations in their 

respective amended filings are 

substantially similar to those of the spot 

bitcoin ETP and spot ether ETP 

proposals approved in prior 

Commission orders.22 In addition, the 

Commission finds that the spot bitcoin 

market continues to be consistently 

highly correlated with the CME bitcoin 

futures market,23 and that the spot ether 

market continues to be consistently 

highly correlated with the CME ether 

futures market.24 As such, based on the 

record before the Commission, 

including the Commission’s correlation 

analyses, the Commission is able to 

conclude that the Exchanges’ 

comprehensive surveillance-sharing 

agreements with the CME 25 can be 

reasonably expected to assist in 

surveilling for fraudulent and 


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Federal Register / Vol. 89, No. 249 / Monday, December 30, 2024 / Notices 106709 

26See, e.g., Spot Bitcoin ETP Approval Order at 

3011; Spot Ether ETP Approval Order at 46941; 

Second Spot Bitcoin ETP Approval Order at 62822; 

Second Spot Ether ETP Approval Order at 59787. 

27See Hashdex Filing at 80976–78; Franklin 

Filing at 15–17, 19–26. 

28See Hashdex Filing at 80977; Franklin Filing at 

23. 

29See Nasdaq Rule 5711(d)(iii); BZX Rule 

14.11(a). 

30See Hashdex Filing at 80977; Franklin Filing at 

25. 

31See supra note 26. 

32See supra note 4. 

33See also supra Section II.B. 

34See Spot Bitcoin ETP Approval Order; Spot 

Ether ETP Approval Order; Second Spot Bitcoin 

ETP Approval Order; Second Spot Ether ETP 

Approval Order. 

35 15 U.S.C. 78s(b)(2). 

36 In addition, the shares of the Trust in the 

Hashdex Filing must comply with the requirements 

of Nasdaq Rule 5711(d) (Commodity-Based Trust 

Shares) to be listed and traded on Nasdaq on an 

initial and continuing basis; and the shares of the 

Trust in the Franklin Filing must comply with the 

requirements of BZX Rule 14.11(e)(4) (CommodityBased Trust Shares) to be listed and traded on BZX 

on an initial and continuing basis. 

37 15 U.S.C. 78s(b)(2). 

38 15 U.S.C. 78f(b)(5); 15 U.S.C. 78k– 

1(a)(1)(C)(iii). 

39 15 U.S.C. 78s(b)(2). 

40 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 101559 

(November 7, 2024), 89 FR 90143 (‘‘Initial 

Proposal’’). 

manipulative acts and practices in the 

specific context of the Proposals. 

B. Exchange Act Section 

11A(a)(1)(C)(iii) 

Each Proposal sets forth aspects of its 

proposed ETP, including the availability 

of pricing information, transparency of 

portfolio holdings, and types of 

surveillance procedures, that are 

consistent with other ETPs that the 

Commission has approved.26 This 

includes commitments regarding: the 

availability of quotation and last-sale 

information for the shares of each Trust; 

the availability on the websites of each 

Trust of certain information related to 

the Trusts, including net asset values; 

the dissemination of intra-day 

indicative values by one or more major 

market data vendors, updated every 15 

seconds throughout the Exchanges’ 

regular trading hours; the Exchanges’ 

surveillance procedures and ability to 

obtain information regarding trading in 

the shares of the Trusts; the conditions 

under which the Exchanges would 

implement trading halts and 

suspensions; and the requirements of 

registered market makers in the shares 

of each Trust.27 In addition, in each 

Proposal, the applicable Exchange 

deems the shares of the applicable Trust 

to be equity securities, thus rendering 

trading in such shares subject to that 

Exchange’s existing rules governing the 

trading of equity securities.28 Further, 

the applicable listing rules of each 

Exchange require that all statements and 

representations made in its filing 

regarding, among others, the description 

of the applicable Trust’s holdings, 

limitations on such holdings, and the 

applicability of that Exchange’s listing 

rules specified in the filing, will 

constitute continued listing 

requirements.29 Moreover, each 

Proposal states that: the applicable Trust 

will represent to the applicable 

Exchange that it will advise that 

Exchange of any failure to comply with 

the applicable continued listing 

requirements; pursuant to obligations 

under Section 19(g)(1) of the Exchange 

Act, that Exchange will monitor for 

compliance with the continued listing 

requirements; and if the applicable 

Trust is not in compliance with the 

applicable listing requirements, that 

Exchange will commence delisting 

procedures.30

The Commission therefore finds that 

the Proposals, as with other ETPs that 

the Commission has approved,31 are 

reasonably designed to promote fair 

disclosure of information that may be 

necessary to price the shares of the 

Trusts appropriately, to prevent trading 

when a reasonable degree of 

transparency cannot be assured, to 

safeguard material non-public 

information relating to the Trusts’ 

portfolios, and to ensure fair and orderly 

markets for the shares of the Trusts. 

III. Accelerated Approval of the 

Franklin Filing 

The Commission finds good cause to 

approve the Franklin Filing prior to the 

30th day after the date of publication of 

notice of its Amendment No. 1 32 in the 

Federal Register. The amendment 

clarified the description of its Trust; 

further described the terms of the Trust; 

and conformed various representations 

in the amended filing to BZX’s listing 

standards and to representations that 

exchanges have made for other ETPs 

that the Commission has approved.33

The amended filing is now substantially 

similar to filings for other spot bitcoin 

ETPs and spot ether ETPs that the 

Commission has approved,34 and as 

discussed above in Section II.A, both (i) 

the spot bitcoin market and the CME 

bitcoin futures market and (ii) the spot 

ether market and the CME ether futures 

market remain consistently highly 

correlated. Accordingly, the 

Commission finds good cause, pursuant 

to Section 19(b)(2) of the Exchange 

Act,35 to approve the Franklin Filing on 

an accelerated basis. 

IV. Conclusion 

This approval order is based on all of 

the Exchanges’ representations and 

descriptions in their respective 

amended filings, which the Commission 

has carefully evaluated as discussed 

above.36 For the reasons set forth above, 

including the Commission’s correlation 

analyses, the Commission finds, 

pursuant to Section 19(b)(2) of the 

Exchange Act,37 that the Proposals are 

consistent with the requirements of the 

Exchange Act and the rules and 

regulations thereunder applicable to a 

national securities exchange, and in 

particular, with Section 6(b)(5) and 

Section 11A(a)(1)(C)(iii) of the Exchange 

Act.38

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Exchange Act,39

that the Hashdex Filing (SR–NASDAQ– 

2024–028) be, and hereby is, approved; 

and that the Franklin Filing (SR– 

CboeBZX–2024–091) be, and hereby is, 

approved on an accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.40

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–30911 Filed 12–27–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101985; File No. SR– 

NYSEARCA–2024–89] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of 

Amendment No. 1 to a Proposed Rule 

Change To Adopt Temporary Rule 

7.34–E(T) and Revise Rules 1.1 and 

7.34–E to Lengthen the Current 

Extended Trading Sessions 

December 19, 2024. 

On October 25, 2024, 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 adopt temporary rule 7.34– 

E(T) and revise rules 1.1 and 7.34–E to 

lengthen the current extended trading 

sessions. The proposed rule change was 

published for comment in the Federal 

Register on November 14, 2024.3 On 

December 13, 2024, the Exchange filed 

Amendment No. 1 to the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. Amendment No. 1 


ddrumheller on DSK120RN23PROD with NOTICES1