Federal Register / Vol. 90, No. 29 / Thursday, February 13, 2025 / Notices 9559 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 102003 

(December 19, 2024), 89 FR 106648. 

4 15 U.S.C. 78s(b)(2). 

5 Id. 

are available at www.prc.gov, Docket 

Nos. MC2025–1170, K2025–1170. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2025–02562 Filed 2–12–25; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail 

Express, Priority Mail, and USPS 

Ground Advantage® Negotiated 

Service Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: February 

13, 2025. 

FOR FURTHER INFORMATION CONTACT: 

Sean C. Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on February 6, 

2025, it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Express, Priority Mail & 

USPS Ground Advantage® Contract 

1328 to Competitive Product List. 

Documents are available at 

www.prc.gov, Docket Nos. MC2025– 

1175, K2025–1175. 

Sean C. Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2025–02560 Filed 2–12–25; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail and 

USPS Ground Advantage® Negotiated 

Service Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: February 

13, 2025. 

FOR FURTHER INFORMATION CONTACT: 

Sean Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on February 3, 

2025, it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail & USPS Ground 

Advantage® Contract 613 to 

Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2025–1171, K2025–1171. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2025–02563 Filed 2–12–25; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail 

Express, Priority Mail, and USPS 

Ground Advantage® Negotiated 

Service Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: February 

13, 2025. 

FOR FURTHER INFORMATION CONTACT: 

Sean C. Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on February 3, 

2025, it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Express, Priority Mail & 

USPS Ground Advantage® Contract 

1327 to Competitive Product List. 

Documents are available at 

www.prc.gov, Docket Nos. MC2025– 

1172, K2025–1172. 

Sean C. Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2025–02559 Filed 2–12–25; 8:45 am] 

BILLING CODE 7710–12–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102375; File No. SR– 

CboeBZX–2024–126] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of 

Designation of a Longer Period for 

Commission Action on a Proposed 

Rule Change To List and Trade Shares 

of the BondBloxx Private Credit Trust 

Under BZX Rule 14.11(f), Trust Issued 

Receipts 

February 7, 2025. 

On December 17, 2024, 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 list 

and trade shares of the BondBloxx 

Private Credit Trust under BZX Rule 

14.11(f). The proposed rule change was 

published for comment in the Federal 

Register on December 30, 2024.3 The 

Commission has received no comments 

regarding the proposed rule change. 

Section 19(b)(2) of the Act 4 provides 

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for this 

proposed rule change is February 13, 

2025. The Commission is extending this 

45-day time period. 

The Commission finds it appropriate 

to designate a longer period within 

which to take action on the proposed 

rule change so that it has sufficient time 

to consider the proposed rule change. 

Accordingly, the Commission, pursuant 

to Section 19(b)(2) of the Act,5

designates March 30, 2025, as the date 

by which the Commission shall either 

approve or disapprove, or institute 

proceedings to determine whether to 

disapprove, the proposed rule change 

(File No. SR–CboeBZX–2024–126). 


ddrumheller on DSK120RN23PROD with NOTICES1
9560 Federal Register / Vol. 90, No. 29 / Thursday, February 13, 2025 / Notices 

6 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

3See 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; and SRCboeBZX–2024–018) 

(Order Granting Accelerated Approval of Proposed 

Rule Changes, as Modified by Amendments 

Thereto, to List and Trade Shares of Ether-Based 

Exchange-Traded Products) (‘‘Ethereum ETP 

Approval Order’’). 

4See Rule 19.3(i) which permits options trading 

on Fund Shares that (1) represent interests in 

registered investment companies (or series thereof) 

organized as open-end management investment 

companies, unit investment trusts or similar 

entities, and that hold portfolios of securities 

comprising or otherwise based on or representing 

investments in indexes or portfolios of securities (or 

that hold securities in one or more other registered 

investment companies that themselves hold such 

portfolios of securities) (‘‘Funds ’’) and/or financial 

instruments including, but not limited to, stock 

index futures contracts, options on futures, options 

on securities and indexes, equity caps, collars and 

floors, swap agreements, forward contracts, 

repurchase agreements and reverse repurchase 

agreements (the ‘‘Financial Instruments’’), and 

money market instruments, including, but not 

limited to, U.S. government securities and 

repurchase agreements (the ‘‘Money Market 

Instruments’’) constituting or otherwise based on or 

representing an investment in an index or portfolio 

of securities and/or Financial Instruments and 

Money Market Instruments, or (2) represent 

commodity pool interests principally engaged, 

directly or indirectly, in holding and/or managing 

portfolios or baskets of securities, commodity 

futures contracts, options on commodity futures 

contracts, swaps, forward 477 contracts and/or 

options on physical commodities and/or non-U.S. 

currency (‘‘Commodity Pool ETFs’’) or (3) represent 

interests in a trust or similar entity that holds a 

specified non-U.S. currency or currencies deposited 

with the trust or similar entity when aggregated in 

some specified minimum number may be 

surrendered to the trust by the beneficial owner to 

receive the specified non-U.S. currency or 

currencies and pays the beneficial owner interest 

and other distributions on the deposited non-U.S. 

currency or currencies, if any, declared and paid by 

the trust (‘‘Currency Trust Shares’’), or (4) represent 

interests in the SPDR Gold Trust or are issued by 

the iShares COMEX Gold Trust or iShares Silver 

Trust. 

5The trust may include minimal cash. 

6Rule 19.3(a) and (b) sets forth the criteria an 

underlying security must meet for the Exchange to 

be able to list options on the underlying. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–02555 Filed 2–12–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102373; File No. SR– 

CboeBZX–2025–008] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing of 

a Proposed Rule Change, as Modified 

by Amendment No. 1, To List Options 

on the Fidelity Ethereum Fund 

February 7, 2025. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on January 

24, 2025, Cboe BZX Exchange, Inc. 

(‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the Exchange. On February 

3, 2025, the Exchange submitted 

Amendment No. 1 to the proposed rule 

change. The Commission is publishing 

this notice to solicit comments on the 

proposed rule change, as amended, from 

interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to list options 

on the Fidelity Ethereum Fund. The text 

of the proposed rule change is provided 

in Exhibit 5. 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://markets.cboe.com/us/ 

equities/regulation/rule_filings/bzx/), at 

the Exchange’s Office of the Secretary, 

and at the Commission’s Public 

Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

Rule 19.3 regarding the criteria for 

underlying securities. Specifically, the 

Exchange proposes to amend Rule 

19.3(i)(4) to allow the Exchange to list 

and trade options on shares or other 

securities (‘‘Fund Shares’’) that are 

principally traded on a national 

securities exchange and are defined as 

an ‘‘NMS stock’’ under Rule 600 of 

Regulation NMS and that represent 

interests in the Fidelity Ethereum Fund 

(the ‘‘Fidelity Fund’’).3 Current Rule 

19.3(i) provides that, subject to certain 

other criteria set forth in that Rule, 

securities deemed appropriate for 

options trading include Fund Shares 

that represent certain types of interests,4

including interests in certain specific 

trusts that hold financial instruments, 

money market instruments, or precious 

metals (which are deemed 

commodities). 

The Fidelity Fund is an Ethereumbacked commodity ETF structured as a 

trust. Similar to any Fund Share 

currently deemed appropriate for 

options trading under Rule 19.3(i), the 

investment objective of the Fidelity 

Fund is for its shares to reflect the 

performance of Ethereum (less the 

expenses of the trust’s operations), 

offering investors an opportunity to gain 

exposure to Ethereum without the 

complexities of Ethereum delivery. As is 

the case for Fund Shares currently 

deemed appropriate for options trading, 

the Fidelity Fund’s shares represent 

units of fractional undivided beneficial 

interest in the trust, the assets of which 

consist principally of Ethereum and are 

designed to track Ethereum or the 

performance of the price of Ethereum 

and offer access to the Ethereum 

market.5 The Fidelity Fund provides 

investors with cost-efficient alternatives 

that allow a level of participation in the 

Ethereum market through the securities 

market. The primary substantive 

difference between the Fidelity Fund 

and Fund Shares currently deemed 

appropriate for options trading are that 

Fund Shares may hold securities, 

certain financial instruments, specified 

precious metals (which are deemed 

commodities), and Bitcoin (which is 

also deemed a commodity), while the 

Fidelity Fund holds Ethereum (which is 

also deemed a commodity). 

The Exchange believes the Fidelity 

Fund satisfies the Exchange’s initial 

listing standards for Fund Shares on 

which the Exchange may list options. 

Specifically, the Fidelity Fund satisfies 

the initial listing standards set forth in 

Rule 19.3(i), as is the case for other 

Fund Shares on which the Exchange 

lists options (including trusts that hold 

commodities). Rule 19.3(i)(1) requires 

that Fund Shares either (1) meet the 

criteria and standards set forth in Rule 

19.3(a) and (b),6 or (2) are available for 

creation or redemption each business 

day in cash or in kind from the 

investment company, commodity pool 

or other entity at a price related to net 


ddrumheller on DSK120RN23PROD with NOTICES1