Document ID: SEC-2022-0293-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market, LLC
Posted Date: 2022-03-03T05:00Z

[Federal Register Volume 87, Number 42 (Thursday, March 3, 2022)]
[Notices]
[Pages 12211-12212]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-04423]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94316; File No. SR-NASDAQ-2021-066]

Self-Regulatory Organizations; The Nasdaq Stock Market 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 List and Trade Shares 
of the Valkyrie XBTO Bitcoin Futures Fund Under Nasdaq Rule 5711(g)

    On August 23, 2021, The Nasdaq Stock Market LLC (``Nasdaq'') 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 Valkyrie XBTO Bitcoin Futures Fund under Nasdaq 
Rule 5711(g). On August 25, 2021, Nasdaq filed Amendment No. 1 to the 
proposed rule change. The proposed rule change, as modified by 
Amendment No. 1, was published for comment in the Federal Register on 
September 9, 2021.\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. 92865 (Sept. 2, 
2021), 86 FR 50570.
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    On September 29, 2021, 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 December 7, 2021, 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\ The Commission has 
received no comments on the proposed rule change.
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 93172, 86 FR 55071 
(Oct. 5, 2021).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 93731, 86 FR 70882 
(Dec. 13, 2021).
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
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

[[Page 12212]]

the Commission determines that a longer period is appropriate and 
publishes the reasons for such determination. The proposed rule change 
was published for comment in the Federal Register on September 9, 
2021.\9\ The 180th day after publication of the proposed rule change is 
March 8, 2022. The Commission is extending the time period for 
approving or disapproving the proposed rule change for an additional 60 
days.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See supra note 3 and accompanying text.
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    The Commission finds that it is 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 and the issues raised in any comments submitted in 
connection therewith. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\10\ designates May 7, 2022, as the date by which 
the Commission shall either approve or disapprove the proposed rule 
change (File No. SR-NASDAQ-2021-066), as modified by Amendment No. 1.
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    \10\ 15 U.S.C. 78s(b)(2).

    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).

    Dated: February 25, 2022.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022-04423 Filed 3-2-22; 8:45 am]
BILLING CODE 8011-01-P