Document ID: SEC-2017-1278-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2017-07-31T04:00Z

[Federal Register Volume 82, Number 145 (Monday, July 31, 2017)]
[Notices]
[Page 35557]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-15992]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81201; File No. SR-NYSEArca-2017-06]

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. 2, Relating to the Listing and Trading of 
Shares of the Bitcoin Investment Trust Under NYSE Arca Equities Rule 
8.201

July 25, 2017.
    On January 25, 2017, NYSE Arca, Inc. (``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 Bitcoin Investment Trust under NYSE Arca Equities Rule 
8.201. The proposed rule change was published for comment in the 
Federal Register on February 9, 2017.\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. 79955 (Feb. 3, 
2017), 82 FR 10086 (Feb. 9, 2017).
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    On March 22, 2017, 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 April 6, 2017, the Exchange filed Amendment No. 1 to 
the proposed rule change. On April 27, 2017, the Commission published 
notice of Amendment No. 1 and instituted proceedings to determine 
whether to approve or disapprove the proposed rule change, as modified 
by Amendment No. 1.\6\ On May 11, 2017, the Exchange filed Amendment 
No. 2 to the proposed rule change, and on May 25, 2017, the Commission 
published notice of Amendment No. 2.\7\ The Commission has received 
fourteen 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. 80297 (Mar. 22, 
2017), 82 FR 15408 (Mar. 28, 2017).
    \6\ See Securities Exchange Act Release No. 80502 (Apr. 21, 
2017), 82 FR 19398 (Apr. 27, 2017). 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 19411-12.
    \7\ See Securities Exchange Act Release No. 80729 (May 19, 
2017), 82 FR 24185 (May 25, 2017).
    \8\ All comments on the proposed rule change are available on 
the Commission's Web site at: https://www.sec.gov/comments/sr-nysearca-2017-06/nysearca201706.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 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 
February 9, 2017. August 8, 2017 is 180 days from that date, and 
October 7, 2017 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 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 7, 2017 as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-NYSEArca-2017-06).
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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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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-15992 Filed 7-28-17; 8:45 am]
 BILLING CODE 8011-01-P