82 FR 2426 - 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 Relating to the Listing and Trading of Shares of SolidX Bitcoin Trust Under NYSE Arca Equities Rule 8.201

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 5 (January 9, 2017)

[Federal Register Volume 82, Number 5 (Monday, January 9, 2017)]
[Notices]
[Page 2426]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-00102]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79726; File No. SR-NYSEArca-2016-101]


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 
Relating to the Listing and Trading of Shares of SolidX Bitcoin Trust 
Under NYSE Arca Equities Rule 8.201

January 3, 2017.
    On July 13, 2016, NYSE Arca, Inc. 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 
SolidX Bitcoin Trust under NYSE Arca Equities Rule 8.201. The proposed 
rule change was published for comment in the Federal Register on August 
2, 2016.\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. 78426 (Jul. 27, 
2016), 81 FR 50763 (Aug. 2, 2016).
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    On September 6, 2016, 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 October 27, 2016, the Commission instituted proceedings 
to determine whether to approve or disapprove the proposed rule 
change.\6\ The Commission has received seven comments on the proposed 
rule change.\7\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 78770, 81 FR 62780 
(Sept. 12, 2016).
    \6\ See Securities Exchange Act Release No. 79171, 81 FR 76400 
(Nov. 2, 2016). 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 76401.
    \7\ See Letters from Daniel H. Gallancy, CFA, SolidX Management 
LLP (Nov. 23, 2016); Thaya B. Knight, Associate Director, Financial 
Regulation Studies, The Cato Institute (Dec. 1, 2016); Jerry Brito, 
Executive Director, Coin Center (Dec. 7, 2016); Joseph Colangelo, 
President, Consumers' Research (Dec. 7, 2016); Denise Krisko, CFA, 
President and Co-Founder, Vident Investment Advisory, LLC (Dec. 7, 
2016); Balaji Srinivasan, Chief Executive Officer & Cofounder, 21, 
et al. (Dec. 7, 2016); and Ken I. Maher (Dec. 8, 2016). All comments 
on the proposed rule change are available on the Commission's Web 
site at: https://www.sec.gov/comments/sr-nysearca-2016-101/nysearca2016101.shtml.
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    Section 19(b)(2) of the Act \8\ 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 
August 2, 2016. January 29, 2017 is 180 days from that date, and March 
30, 2017 is 240 days from that date.
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    \8\ 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,\9\ designates March 30, 2017 as the date by which the 
Commission should either approve or disapprove the proposed rule change 
(File No. SR-NYSEArca-2016-101).
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    \9\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(57).

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-00102 Filed 1-6-17; 8:45 am]
BILLING CODE 8011-01-P