Document ID: SEC-2019-1181-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe BZX Exchange, Inc.
Posted Date: 2019-08-16T04:00Z

[Federal Register Volume 84, Number 159 (Friday, August 16, 2019)]
[Notices]
[Pages 42035-42036]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-17591]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86630; File No. SR-CboeBZX-2019-004]

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 Shares of the VanEck SolidX Bitcoin Trust

August 12, 2019.
    On January 30, 2019, Cboe BZX Exchange, Inc. (``BZX'' 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 SolidX Bitcoin Shares 
issued by the VanEck SolidX Bitcoin Trust under BZX Rule 14.11(e)(4), 
Commodity-Based Trust Shares. The proposed rule change was published 
for comment in the Federal Register on February 20, 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. 85119 (Feb. 13, 
2019), 84 FR 5140 (Feb. 20, 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 20, 2019, the Commission instituted proceedings under 
Section 19(b)(2)(B) of the Act \6\ to determine whether to approve or 
disapprove the proposed rule change.\7\ As of August 12, 2019, the 
Commission has received 38 comment letters on the proposed rule 
change.\8\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 85475 (Mar. 29, 
2019), 84 FR 13345 (Apr. 4, 2019).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 85896 (May 20, 
2019), 84 FR 24188 (May 24, 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 24189 (citing 15 U.S.C. 78f(b)(5)).
    \8\ Comments on the proposed rule change can be found at: 
https://www.sec.gov/comments/sr-cboebzx-2019-004/srcboebzx2019004.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 date 
of publication of notice of filing of the proposed rule change was 
February 20, 2019. August 19, 2019, is 180 days from that date, and 
October 18, 2019, 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

[[Page 42036]]

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 October 18, 2019, as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-CboeBZX-2019-004).
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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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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-17591 Filed 8-15-19; 8:45 am]
BILLING CODE 8011-01-P