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[Federal Register Volume 90, Number 29 (Thursday, February 13, 2025)]
[Notices]
[Pages 9569-9570]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02554]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102378; File No. SR-NYSEAMER-2024-45]

Self-Regulatory Organizations; NYSE American LLC; 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, To Amend Exchange Rule 915 To Permit the 
Listing and Trading of Options on the Bitwise Ethereum ETF, the 
Grayscale Ethereum Trust, and the Grayscale Ethereum Mini Trust

February 7, 2025.
    On July 23, 2024, NYSE American LLC (``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 amend Exchange 
Rule 915 to permit the listing and trading of options on the Bitwise 
Ethereum ETF, the Grayscale Ethereum Trust (ETH), the Grayscale 
Ethereum Mini Trust, and any trust that holds ether. The proposed rule 
change was published for comment in the Federal Register on August 13, 
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. 100666 (Aug. 7, 
2024), 89 FR 65957.
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    On September 24, 2024, 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 approve or disapprove the proposed 
rule change.\5\ On November 8, 2024, the Commission instituted 
proceedings pursuant to Section 19(b)(2)(B) of the Act \6\ to determine 
whether to approve or disapprove the proposed rule change.\7\ The 
Commission received comments regarding the proposal.\8\ On February 5, 
2025, the Exchange submitted Amendment No. 1 to the proposal.\9\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 101157, 89 FR 79678 
(Sept. 30, 2024).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 101573, 89 FR 90133 
(Nov. 14, 2024).
    \8\ Comments on the proposal are available at: https://www.sec.gov/comments/sr-nyseamer-2024-45/srnyseamer202445.htm.
    \9\ Among other things, Amendment No. 1 narrows the scope of the 
proposal to provide for the listing and trading of options on the 
Bitwise Ethereum ETF, the Grayscale Ethereum Trust, and the 
Grayscale Ethereum Mini Trust. Amendment No. 1 is available at: 
https://www.sec.gov/comments/sr-nyseamer-2024-45/srnyseamer202445-565435-1620962.pdf.
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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 
proposed rule change was published for notice and comment in the 
Federal Register on August 13, 2024. February 9, 2025 is 180 days from 
that date, and April 10, 2025 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 the proposed 
rule change, as amended,

[[Page 9570]]

and the issues raised therein. Accordingly, the Commission, pursuant to 
Section 19(b)(2) of the Act,\11\ designates April 10, 2025, as the date 
by which the Commission shall either approve or disapprove the proposed 
rule change (File No. SR-NYSEAMER-2024-45), as modified by Amendment 
No. 1.
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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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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-02554 Filed 2-12-25; 8:45 am]
BILLING CODE 8011-01-P
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